Advertising revenues collapse: TX Group applies for short-time work
At TX Group, advertising revenues are collapsing due to the corona virus. The company is therefore applying for short-time working for practically all units. This was communicated to its employees by TX Group on Friday. The TX Group cannot yet say how many employees are affected.
The workload of the employees will be reduced by at least 10 percent. Where possible, more could be cut, the company writes in an employee information document obtained by the Keystone-SDA news agency.
During the phase of short-time work, wages will fall accordingly. However, as the company stated on request, it wants to keep the financial losses of the employees as low as possible. TX Group will therefore continue to pay at least 90 percent of the gross salary during the short-time working period.
Deploy sports and culture department elsewhere
Because individual teams, such as those in sports and culture reporting at Tamedia's paid media, have significantly less work due to the Corona crisis, they are to be deployed in other departments whenever possible. Of course, employees are not expected to work as much as usual during the short-time phase.
The TX Group expects advertising revenues to fall by a mid-double-digit million figure by the end of the year. Even the good development in the digital sector cannot come close to compensating for this. (SDA)
