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

80 - 100 jobs
Number of planned job losses
Job loss
Announcement Date
26 September 2016
Employment effect (start)
26 September 2016
Foreseen end date
31 December 2017


The publishing-group Verlagsgruppe NEWS (VGN) announced to cut up to 100 jobs as part of an internal restructuring programme.

After two years of heavy financial losses of approximately €5 million, management presented plans to reduce expenses by €10 million. This will be achieved with a bundle of measures, including cut backs in office rents but also personnel costs. Restructuring measures were recommended by a business consultant and will be implemented in the following month in view of improving the company's financial results in 2017. Additionally, the publishing group wants to develop new strategies to position itself for future challenges resulting from an increase in digitalisation.

Management announced that there will be a social plan for affected employees, negotiations with trade unions will follow.  The company currently employees 500 staff. 


  • 26 September 2016: Wirtschaftsblatt
  • 26 September 2016: Die Presse


Eurofound (2016), Verlagsgruppe News (VGN), Internal restructuring in Austria, factsheet number 88721, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88721.