The German TV broadcasting group RTL is reportedly planning significant job cuts in Germany.
According to a report published by the magazine "Wirtschaftswoche" on Monday, the company, which is part of the Bertelsmann media conglomerate, intends to cut between 800 and 1,000 positions. The plans affect the entire broadcasting group, which, in addition to its flagship RTL channel, also includes the broadcaster Vox, the news channel n-tv, and the streaming service RTL+. The channels have been struggling for years with a weak advertising market and competition from US streaming services such as Netflix.
Several RTL subsidiaries are expected to be closed, resulting in compulsory redundancies. "Reportedly," management has negotiated a social compensation plan with the works council for the job cuts, the report said. Employees are to be informed on Tuesday. A spokesperson said she could not comment on such speculation as a matter of principle.
(Report by Olaf Brenner, edited by Sabine Ehrhardt; For further inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economic affairs) or frankfurt.newsroom@thomsonreuters.com (for business and markets).
