EMCC European Monitoring Centre on Change

Telegraaf Media Groep

Company/Organisation:
Telegraaf Media Groep

Geographic Location

Country: Netherlands

Company

Sector: Information / communication
Publishing, audiovisual and broadcasting activities
58 - Publishing activities
Number Employed: 2850

Employment Effects

Announcement Date: 07-12-2011
Planned Job Reductions min: 350
Planned Job Reductions max: 350
Type of Restructuring: Internal restructuring
Employment Effect Start: 08-12-2011
Foreseen End Date: 31-12-2016

Additional Information

On 7 December 2011, the second largest media company in the Netherlands Telegraaf Media Groep (TMG) announced that it will cut 350 jobs in the years to come, some 12% of the total number of employees.

It is reported that an earlier restructuring operation resulted in the loss of 600 jobs in 2008, more than initially announced (see here). Background for the new measures are said to be the loss of income from advertising and an expected drop in the number of newspaper sales.

TMG aims to reduce its dependency on printed media from 70% to 50% in 2016. The job cuts are part of a five year strategic plan.