Ringier: Rumors of round of cost-cutting intensify
There are growing signs that Ringier is facing another major round of cost-cutting. According to the newspaper *Der Sonntag*, figures are reportedly being circulated behind closed doors within the company itself, fueling employees’ fears of a wave of layoffs.
There was talk of having to cut ten percent across the Group. The statement made by Ringier CEO Christian Unger in the "News" section did not exactly help to reassure staff. Interview with the business magazine Bilanzthat the company will make further cost reductions. Furthermore, Ringier employees are said to repeatedly encounter employees of a strategic consulting firm at the company's headquarters.
Der Sonntag asked Ringier spokesman Edi Estermann whether it was true that the Group wanted to make linear savings of ten percent. Ringier is constantly and consistently reviewing the efficiency of its business units and various holdings, Estermann replied. As part of the Group-wide increase in profitability, Ringier is currently examining ways to improve efficiency. Ringier is doing this in an effort to "grow and diversify. And thus become an attractive bride for the German Springer publishing house? asks Der Sonntag. Estermann said nothing about this.
