Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Axel Springer plans layoffs after KKR becomes biggest shareholder - report

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/15/2019 | 01:06pm EDT
FILE PHOTO: CEO of German publisher Axel Springer Mathias Doepfner makes a speech during the annual news conference in Berlin

BERLIN (Reuters) - Axel Springer is planning layoffs as part of a cost-cutting programme that would mainly affect its newspapers, the German media group's chief executive told the Sueddeutsche Zeitung in an interview released on Sunday.

"It doesn't only sound like a big cut (in jobs), it is one," Mathias Doepfner was quoted as saying, though the report gave no concrete figures.

"Where we have digital growth we will invest and recruit staff... And where we have declining sales we must restructure and cut jobs."

German newspapers Bild and Welt will be affected, he added.

The cost-cutting plan comes one month after U.S. private equity firm KKR became the company's biggest shareholder.

(Reporting by Joseph Nasr; Editing by Jan Harvey)

Stocks mentioned in the article
ChangeLast1st jan.
AXEL SPRINGER SE 1.51% 63.9 Delayed Quote.27.48%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
01:11pWELLS FARGO MPANY : Falling Rates, $1.6 Billion Charge Weigh on Wells Fargo Profit
DJ
01:09pLIBERTY STAR URANIUM & METALS CORP. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
AQ
01:08pAXA : announces the Subscription Prices for its 2019 employee share offering (Shareplan 2019)
PU
01:08pEUROPE : European shares jump as hopes of Brexit deal grow
RE
01:08pOlympic Superstars Hosszu, Peaty & Murphy Headline ISL Lewisville Match
BU
01:07pMuscle maker, inc acquires location in the bronx
GL
01:07pEMONEY ADVISOR : Evolves Open Architecture Framework with Launch of eMoney Access, a Flexible API-based Solution for Enterprises
BU
01:06pNew Pratt engine checks after Swiss A220 diverts to Paris
RE
01:05pVOLTALIA : confirms its status of responsible company and progresses within the Gaïa-Index
EQ
01:04pUVA Darden School of Business Announces $400 Million Campaign
PR
Latest news "Companies"