CH Media cuts 200 full-time positions
CH Media commenced operations on October 1, 2018. An integration program was developed on the basis of various analyses. It forms the basis for the merger of the two companies AZ Medien and NZZ-Regionalmedien. The aim is to increase efficiency throughout the company.
As part of the integration program, company-wide costs are to be reduced by 10 percent over the next 24 months, i.e. by around CHF 45 million, according to a press release issued on Thursday. In addition to the reduction in material costs, around 200 full-time positions will be cut. The CH Media workforce was informed of this on Thursday. CH Media currently employs around 2,200 people.
The programme consists of over 40 projects and over 100 sub-projects that are being implemented across the entire organization. CH Media is utilizing the synergy potential resulting from the joint venture between AZ Medien and the NZZ Media Group and is thus responding to the still extremely tense market situation in the industry. The increase in efficiency is to be achieved in all areas. Some of the necessary job cuts are to be achieved through natural fluctuation; however, there will be redundancies. According to the press release, it is currently not possible to provide details of the job cuts. All measures will be implemented in as socially responsible a manner as possible. CH Media will do everything in its power to support the employees affected in their professional reorientation. A social plan will be implemented.
"We are aware that this information may cause uncertainty among employees. We have deliberately chosen this path of transparency. We will do everything in our power to create clarity for our employees as quickly as possible," said Axel Wüstmann, CEO of CH Media, in a statement.
