Germany: Axel Springer cuts 266 jobs
The Berlin publishing house Axel Springer wants to cut almost one in four jobs in central departments.
The Berlin publishing house Axel Springer wants to cut 266 jobs in administration. This means that almost one in four jobs in central departments will be cut. According to SDA, around half of the employees affected are to leave the company through early retirement schemes or staff turnover. According to a company spokeswoman, Springer's aim is to keep the number of jobs in the Group as constant as possible and to create jobs in so-called "market-oriented" areas. Currently, around twelve percent of employees work in administration; in future this figure should be less than ten.
In 2005, the publishing house, which publishes the daily newspapers Die Welt and Bild, among others, increased its profit by around half to 231 million euros.
