Sanoma’s transformation process continues - co-operation negotiations in Sanoma Digital and Sanoma Lehtimedia have concluded

10/8/2012 2:15 AM EST

Sanoma’s transformation process continues - co-operation negotiations in Sanoma
Digital and Sanoma Lehtimedia have concluded

Sanoma Corporation, Press Release, 8 October 2012 at 9:15 CET+1

On 16 August, Sanoma News announced the start of programme targeting to
structural changes. The purpose of the programme was to broadly assess the
product selection, processes and number of personnel. The start of co-operation
negotiations in Sanoma Digital Finland and Sanoma Lehtimedia was announced at
the same time. The co-operation negotiations have now been completed in both
units. 

As a result of the co-operation negotiations, it has been decided to
discontinue the print Keltainen Pörssi paper. The last issue of the paper will
be published on 26 October. In addition, Sanoma Digital functions are
centralised to Helsinki. 

Structural changes in Sanoma Lehtimedia are mostly targeted to the Kymen
Sanomat organisation. Changes are also targeted at Uutisvuoksi, Sanoma
Lehtimedia’s Imatra editorial office and the organisations of Lehtimedia´s
sales and management. 

The co-operation negotiations result in the termination of the work
relationship of 12 employees in Sanoma Digital and 11 employees in Sanoma
Lehtimedia. In addition, changes to the essential conditions of work
relationships, such as location of work or work time, will be made for 17
employees in Sanoma Digital and 18 employees in Sanoma Lehtimedia. The overall
effect equals a total of 10 person-years in Sanoma Digital and 17.4
person-years in Sanoma Lehtimedia. 

”In the rapidly changing operation environment we must both intensify and
constantly improve our operations. The purpose of the changes is to for their
part ensure that we can maintain our competitiveness also in the future,” says
Pekka Soini, CEO of Sanoma News. 

The ongoing co-operation negotiations of Sanoma Kaupunkilehdet in Sanoma News
will be completed approximately on 24 October 2012. 

Sanoma News’ structural savings programme is part of overall Sanoma Group
transformation process. In that context Sanoma Magazines Finland has also
announced its plans to reorganize its operations. Similar programmes are in
progress in other Sanoma units and countries, too. Our target is to be in the
forefront of the market development and secure our good performance and
profitability in a changing and digitalising operating environment, said
Harri-Pekka Kaukonen, President and CEO of Sanoma, in a release on 16 August
2012. 

Additional information
Pekka Soini, CEO, Sanoma News, tel. +358 9 122 2000

Sanoma News is the leading newspaper publisher in Finland, and its products in
both print and digital format have a strong presence in the lives of their
readers. In addition to Helsingin Sanomat, the largest daily in the Nordic
region, the division publishes Ilta-Sanomat, Finland’s largest quality tabloid
and Taloussanomat, the number one digital financial media, as well as regional
newspapers. Sanoma News is also among the most significant digital actors in
Finland. Sanoma News is part of the Sanoma Group, a strong European media group
operating in diverse fields of consumer media and learning in 20 countries.