KSF Media

Type
Internal restructuring
Country
Finland
Region
Location of affected unit(s)
Sector
Media
58 - Publishing activities
58.1 - Publishing of books, newspapers and other publishing activities, except software publishing
58.12 - Publishing of newspapers
50 jobs
Number of planned job losses
Job loss
Announcement Date
19 May 2014
Employment effect (start)
28 May 2014
Foreseen end date
10 July 2014

Description

Finnish media group KSF Media has announced that it will cut 50 jobs in Finland, which is one fifth of its workforce. KSF Media the largest publisher of Swedish-language newspapers in Finland.

This restructuring is part of a cost savings program at KSF Media and was initiated as a result of declining revenues over the past few years. According to the source, the job cuts did not come as a surprise to the employees. The source reports that statutory negotiations with trade unions are due to begin on 28 May and will continue for six weeks.

Sources

  • 19 May 2014: Svenska YLE

Citation

Eurofound (2014), KSF Media, Internal restructuring in Finland, factsheet number 77030, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77030.