EMCC European Monitoring Centre on Change

G+J Wirtschaftsmedien

Company/Organisation:
G+J Wirtschaftsmedien

Geographic Location

Country: Germany
Location of affected unit(s): Hamburg, Frankfurt

Company

Sector: Information / communication
Publishing, audiovisual and broadcasting activities
58.13 - Publishing of newspapers
Number Employed: 350
Group: Gruner + Jahr

Employment Effects

Announcement Date: 22-11-2012
Planned Job Reductions min: 314
Planned Job Reductions max: 320
Type of Restructuring: Internal restructuring
Employment Effect Start: 07-12-2012
Foreseen End Date: 31-01-2013
Direct Dismissals: 320

Additional Information

As announced on November 22, 2012, German publishing company Gruner + Jahr will make some 320 people redundant by closing its subsidiary G + J Wirtschaftsmedien.

Job cuts will be realized by January 2013. G + J Wirtschaftsmedien is the publisher of the financial newspaper ‘Financial Times Deutschland’, which will cease its activities by December 7th.  ‘Impulse’ and ‘Börse Online’, further magazines published by Gruner + Jahr, will be sold.

In total, G + J Wirtschaftsmedien employs some 350 people. Forced redundancies are not ruled out. Worker representatives announced to go into opposition to the proposed redundancies.