Redundancies at Ringier: editorial offices also affected
Due to falling advertising revenues, the media company Ringier is cutting a total of 22 jobs in Switzerland. 16 people will be made redundant and six will take early retirement. Editorial offices are also affected, as press spokesman Marco Castellaneta told Werbewoche.
Continuing falls in advertising revenue due to the global financial and economic crisis have prompted Ringier to take various steps, including 16 redundancies and six early retirements. A social plan will be applied in all cases. Various areas of the company are affected, including editorial offices. Press spokesman Marco Castellaneta did not wish to provide detailed information to Werbewoche. The people affected were informed on Wednesday morning.
The redundancies and early retirements will take place in accordance with the contractual deadlines. The company is not communicating any further measures in Switzerland. According to Castellaneta, no further job cuts are currently planned abroad. However, it goes without saying that such reductions cannot be ruled out completely.
However, Castellaneta does not want to make any further predictions about the current crisis. "In connection with the financial crisis, the advertising and media markets have come under additional pressure worldwide, and Ringier AG is feeling the effects throughout the Group. It would not be serious to venture reliable medium and long-term forecasts."
As part of a program to increase efficiency, Ringier has reviewed all expenditure and various services are now to be cut. The measures are intended to enable the company to remain successful on the market even in this economically turbulent environment and to be able to make investments, according to the press release issued on Wednesday. Ringier employed 2034 people in Switzerland at the end of 2007 and expects an increase in turnover of at least ten percent in 2008.
(Photo: Picswiss.ch)
The redundancies and early retirements will take place in accordance with the contractual deadlines. The company is not communicating any further measures in Switzerland. According to Castellaneta, no further job cuts are currently planned abroad. However, it goes without saying that such reductions cannot be ruled out completely.
However, Castellaneta does not want to make any further predictions about the current crisis. "In connection with the financial crisis, the advertising and media markets have come under additional pressure worldwide, and Ringier AG is feeling the effects throughout the Group. It would not be serious to venture reliable medium and long-term forecasts."
As part of a program to increase efficiency, Ringier has reviewed all expenditure and various services are now to be cut. The measures are intended to enable the company to remain successful on the market even in this economically turbulent environment and to be able to make investments, according to the press release issued on Wednesday. Ringier employed 2034 people in Switzerland at the end of 2007 and expects an increase in turnover of at least ten percent in 2008.
(Photo: Picswiss.ch)
