20 minutes Group cuts about 35 jobs
To maintain an economically sustainable foundation and enable investment in innovation, cost-cutting measures are necessary at 20 Minuten. This is expected to result in the elimination of 35 jobs.
The digital transformation is not stopping at 20 Minuten: Rising digital revenues cannot compensate for falling print revenues, the medium announced today. Digital advertising revenues from Switzerland are primarily siphoned off by global tech giants. Accordingly, 20 Minuten's operating revenue has fallen by around a fifth since 2019 (from CHF 147 million in 2019 to CHF 115 million in 2022).
With the necessary reduction in its cost base, 20 Minuten is adapting to the realities of the digital transformation and positioning itself for the future so that it can continue to invest in innovation. In addition to ongoing savings in the publishing house and in material costs, the personnel costs of the editorial teams will be reduced. Where and to what extent savings need to be made was determined by the management after a careful entrepreneurial review of all activities.
New editorial structure in French-speaking Switzerland
The editorial staff of 20 minutes, which also edits lematin.ch and the Sport-Center agency, is one of the largest editorial departments in French-speaking Switzerland, with 104 employees. About two years ago, the editorial office was expanded by 20 jobs. However, the associated revenue expectations had not been met. Instead, there has been a significant decline. As a result, the size of the editorial team in French-speaking Switzerland will have to be adjusted. It is expected that 28 employees will be affected by the job cuts. With a simplification of the editorial structure, the introduction of a cross-departmental working method and thanks to new technological possibilities and cooperation within the 20 Minuten Group, the editorial offering will remain rich. At the same time, the resources of the 20 minutes editorial team will continue to massively exceed those of competing offerings.
The measures in Western Switzerland are subject to the results of the employee consultation process, which will be initiated immediately. Affected employees will be supported by a social plan.
Job cuts also in German-speaking Switzerland
The editorial department of 20 Minuten in German-speaking Switzerland employs 145 people. To reduce the cost base, job cuts in the editorial department are also unavoidable. Seven employees will be affected, and three employees will also have to reduce their workload slightly. A social plan will also be applied in German-speaking Switzerland.
