Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Information / Communication
Publishing Of Information; Production And Programming Of Audiovisual
Publishing Activities
58.14 - Publishing of journals and periodicals

400 jobs
Number of planned job losses
Job loss
Announcement Date
27 August 2014
Employment effect (start)
27 August 2014
Foreseen end date
31 August 2017

Description

Publishing house Gruner + Jahr is to cut 400 jobs within the next three years. This was announced by the company’s CEO on 27 August 2014 at an employee’s meeting. The job cuts will affect all departments and is due to a decline in demand in the print business. The company wants to reduce costs by €75 million and expand its digital business.

According to the management, the job reduction shall be implemented in a socially acceptable manner. However, operational dismissals are not excluded.

Gruner + Jahr is the second biggest publisher of magazines in Europe and currently employs around 2,400 people. In 2013, the company shut down its subsidiary G+J Wirtschaftsmedien which made 320 jobs redundant (see FS 22699). 


Sources

  • 28 August 2014: Die Welt Kompakt
  • 28 August 2014: Handelsblatt
  • 28 August 2014: FAZ

Citation

Eurofound (2014), Gruner + Jahr, Internal restructuring in Germany, factsheet number 77494, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77494.