Gruner+Jahr reduces profit forecast
The magazine publisher Gruner+Jahr has lowered its profit expectations for Germany. The lowering of its long-term return targets for the coming years is due to the overall economic situation, G+J Germany CEO Bernd Buchholz told Horizont.net on Wednesday.
The magazine publisher Gruner+Jahr has lowered its profit expectations for Germany. The lowering of its long-term return targets for the coming years is due to the overall economic situation, G+J Germany CEO Bernd Buchholz told Horizont.net on Wednesday.
The magazine publisher's current cost-cutting plans include laying off 110 editors from "Capital", "Impulse" and "Börse Online" and merging the editorial teams. A new central editorial office for business topics is to be set up in Hamburg. The society magazine Park Avenue will also be discontinued from January next year.
The internal redundancies are now being negotiated as part of social plans. According to Buchholz, there can be no talk of a harsh approach. The conditions of their severance agreements and social plans are significantly fairer than at other media companies.
The magazine publisher's current cost-cutting plans include laying off 110 editors from "Capital", "Impulse" and "Börse Online" and merging the editorial teams. A new central editorial office for business topics is to be set up in Hamburg. The society magazine Park Avenue will also be discontinued from January next year.
The internal redundancies are now being negotiated as part of social plans. According to Buchholz, there can be no talk of a harsh approach. The conditions of their severance agreements and social plans are significantly fairer than at other media companies.







