Ringier Axel Springer Switzerland discontinues L'Hebdo - 37 jobs affected
The French-Swiss weekly magazine L’Hebdo, published by Ringier Axel Springer Switzerland, will be published for the last time on February 2, 2017. This decision will result in job cuts affecting 37 employees. The funds freed up will be invested in the expansion of the leading daily newspaper Le Temps.
Due to a constant decline in advertising and sales revenues combined with a poor economic outlook, the weekly magazine L'Hebdo, which was launched in 1981 in French-speaking Switzerland, will be discontinued as of February 2, 2017. According to the press release, this decision will lead to job cuts in the newsroom jointly managed by L'Hebdo and Le Temps as well as in the publishing house in Lausanne, affecting 37 employees.
The extent to which some of the job cuts can be absorbed through early retirement and internal task shifts is being examined, but it will not be possible to avoid layoffs, the statement continues. For the employees affected, an accompanying plan of measures will be applied, which will be based on Ringier's existing social plan. The consultation process will begin on Monday.
L'Hebdo was the most widely read magazine in French-speaking Switzerland. However, circulation and readership figures have been eroding inexorably for several years. According to Wemf figures, the magazine still achieved a circulation of 33,706 copies sold and a reach of 156,000 readers in 2016, compared with 36,935 copies sold and a reach of 172,000 readers the previous year.
Ralph Büchi, Delegate of the Board of Directors of Ringier Axel Springer Switzerland: "With this decision, we are reacting to the constantly loss-making economic situation of L'Hebdo and the upheaval in the advertising market. L'Hebdo has posted a negative EBITDA since 2002 and has lost more than half of its advertising revenues in the last four years alone. We very much regret that despite various conceptual revisions and organizational adjustments over the past 15 years, we have not succeeded in putting L'Hebdo on a secure economic footing. All the more so because the personnel consequences associated with the decision are unfortunately unavoidable. Nevertheless, we consider it crucial for the future of our site in western Switzerland that we invest our resources in businesses with a stable economic outlook."
The freed-up funds will be shifted to the expansion of the benchmark daily newspaper Le Temps. The newspaper is the leading quality daily in French-speaking Switzerland thanks to its strong digital presence and the online subscription model successfully introduced in 2011. Among other things, investments in new Le Temps businesses such as the regional conference business will be stepped up and the "Forum des 100" will be further expanded. In addition, Le Temps is launching the new Saturday supplement "T" on February 18, 2017, which comprehensively expands the weekend offering for its readers and advertising customers.
Ringier Axel Springer Switzerland currently employs 212 permanent staff in French-speaking Switzerland. The employees of L'illustré, TV8, Boléro and PME Magazine are not affected by the discontinuation of L'Hebdo. (hae/pd/SDA)
