Flop of the week: Rumors of a round of savings at Ringier intensify
There are growing signs that Ringier is facing another major round of cost-cutting. According to *Dem Sonntag*, figures are reportedly being circulated behind closed doors within the company itself, fueling employees’ fears of a wave of layoffs.
There is talk of the need to cut costs by ten percent across the Group. Ringier CEO Christian Unger's statement in an interview with the business magazine Bilanz that the company would be making further cost reductions did not exactly help to reassure staff. In addition, Ringier employees are said to repeatedly come across employees of a strategic consulting firm at the company's headquarters. Sonntag asked Ringier spokesman Edi Estermann whether it was true that the group wanted to make linear savings of ten percent. According to Estermann's answer, Ringier is constantly and consistently reviewing the efficiency of its business divisions and various holdings. As part of the Group-wide increase in profitability, Ringier is currently examining ways to improve efficiency. Ringier is doing this in an effort to "continue to grow and diversify".
