New round of savings at AZ Medien
AZ Medien is cutting a total of 65 jobs by the end of the year. Editorial offices, administration and printing will be affected. The reason for the cutbacks is the unsatisfactory business performance, the media company announced on Wednesday. There will be 45 redundancies.
AZ Medien is cutting a total of 65 jobs by the end of the year. Editorial offices, administration and printing will be affected. The reason for the cutbacks is the unsatisfactory business performance, the media company announced on Wednesday. There will be 45 redundancies.
A redundancy plan will be drawn up for the employees affected. 12 jobs will be cut at the editorial offices of Mittelland Zeitung. This reduction affects the editorial offices of the Aargauer Zeitung, the Solothurner Zeitung, the Basellandschaftliche Zeitung and the Limmattaler Zeitung.
The new savings program is linked to a synergy program that was launched following the takeover of Vogt-Schild-Holding, the publisher of the Solothurner Zeitung, in the spring. Efficiency could be increased at various locations by merging the infrastructure. The reduction of 65 jobs by the end of the year corresponds to around 7.5 percent of the total of 860 jobs at AZ Medien.
Most of the redundancies will take the form of layoffs. It is expected that 45 employees will have to be made redundant. Further reductions will be achieved through early retirement, a reduction in workloads and vacancies that will no longer be filled.
AZ Medien suffered a slump in profits for the second year in a row in 2008. Profit plummeted by 89 percent to 1.2 million Swiss francs. The media company decided not to pay a dividend.
A redundancy plan will be drawn up for the employees affected. 12 jobs will be cut at the editorial offices of Mittelland Zeitung. This reduction affects the editorial offices of the Aargauer Zeitung, the Solothurner Zeitung, the Basellandschaftliche Zeitung and the Limmattaler Zeitung.
The new savings program is linked to a synergy program that was launched following the takeover of Vogt-Schild-Holding, the publisher of the Solothurner Zeitung, in the spring. Efficiency could be increased at various locations by merging the infrastructure. The reduction of 65 jobs by the end of the year corresponds to around 7.5 percent of the total of 860 jobs at AZ Medien.
Most of the redundancies will take the form of layoffs. It is expected that 45 employees will have to be made redundant. Further reductions will be achieved through early retirement, a reduction in workloads and vacancies that will no longer be filled.
AZ Medien suffered a slump in profits for the second year in a row in 2008. Profit plummeted by 89 percent to 1.2 million Swiss francs. The media company decided not to pay a dividend.
