Restructuring events
European Restructuring Monitor (ERM)
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.
Controlinveste, a Portuguese media holding company, announced the collective dismissal of 122 workers, 50% of whom are journalists. These job cuts will affect four daily newspapers of the Controlinveste media group: Diário de Noticias (22 journalists), Jornal de Noticas (27 journalists), 24 Horas and O Jogo (17 journalists). This decision is attributed to the acute negative evolution of the media market, especially in the traditional press, and the cospicuous losses in revenue of the sector, namely from publicity. According to the Journalists Trade Union this is the biggest media job cut in Portugal over the last years. Controlinveste controls a number of newspapers and magazines, and employs more than 1,000 workers.
Eurofound (2009), controlinveste, Internal restructuring in Portugal, factsheet number 67870, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67870.