The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58 - Publishing activities
120 jobs Number of planned job losses
Announcement Date
21 September 2006
Employment effect (start)
Foreseen end date
Description
On 21 September 2006, the German publishing house Handelsblatt, announced its intention to cut 120 out of its 1600 jobs. The job losses are going to affect employees within the editorial and publishing departments in Frankfurt and Düsseldorf. The information department will be outsourced, the departments for magazines and newspapers merged. The internal restructuring strategy is supposed to lend more weight to the online-section of the group. The publishing house did not state a timeline for the planned restructuring and the job losses. The publishing house decided to cut the jobs due to a changed business environment. In 2005, Handelsblatt's volume of sales totalled at 271 million Euros. For 2006, the publishing house anticipates a total volume of sales of 288 million Euros.
Sources
21 September 2006: Handelsblatt
Citation
Eurofound (2006), Handelsblatt, Internal restructuring in Germany, factsheet number 64136, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64136.
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