Sörmlands Media

Type
Merger/Acquisition
Country
Sweden
Region
Östra Sverige; Östra Mellansverige; Södermanlands län
Location of affected unit(s)
Eskilstuna, Strängnäs, Katrineholm
Sector
Media
58 - Publishing activities
58.1 - Publishing of books, newspapers and other publishing activities, except software publishing
58.12 - Publishing of newspapers
60 jobs
Number of planned job losses
Job loss
Announcement Date
16 January 2019
Employment effect (start)
16 January 2019
Foreseen end date

Description

The Swedish local news media company, Sörmlands Nyheter, has announced plans to cut 60 jobs out of the total workforce of 290 employees in the cities of Eskilstuna, Strängnäs and Katrineholm. Since the business was acquired in December 2018 by NTM Group, several changes have taken place, including the dismissal of the editor-in-chief and the current restructuring. According to the company, the units affected are mainly in advertisement, finance and IT and will be centralised to the city of Norrköping. The job cuts are set out in order to meet the increased competition on the media market. It is yet unclear whether the restructuring will affect journalists.

Sources

Citation

Eurofound (2019), Sörmlands Media , Merger/Acquisition in Sweden, factsheet number 96733, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96733.