Alma Media Solutions' change negotiations concluded

Alma Media Corporation                     Press release                    28 March 2024 at 6.05 p.m.

ALMA MEDIA SOLUTIONS' CHANGE NEGOTIATIONS CONCLUDED

The change negotiations initiated by Alma Media's centralized ad sales and digital advertising development organisation on 4 March 2024 have been concluded. The number of employees will be reduced by 28 person-years. Most of the reductions will be realized through resignation agreements. New roles were found for eight people through changes in job description. The maximum reduction need announced at the beginning of the negotiations was 38 person-years.

As a result of the arrangements, Alma Media will record an estimated expense of 0,7 MEUR, which will be reported as an adjusted item in the first quarter results.

Alma Media Solutions organization includes professionals in sales, marketing, research, product development, content marketing and customer service. The negotiations concerned the entire operations of Alma Media Solutions, excluding Netello's operations. The reductions affect different personnel groups of Alma Media Solutions. The decision of the change negotiations includes reorganization, redesign of work and utilizing the possibilities of automation to improve efficiency.

In accordance with Alma Media's strategy, Alma Media Solutions aims to accelerate the growth and development of media advertising by expanding the offering of digital marketing solutions and diversifying advertising service production and purchasing channels.

For more information:
Tiina Kurki
Director, Alma Media Solutions, tel. +358 10 665 2015

Alma Media in brief

Alma Media is an international company of digital media, marketplaces and services with a strong capacity for renewal. We inspire human curiosity and choice by creating services that combine technology and content with a local heart. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Jobly, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.

In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for businesses and professionals. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services and an online marketplace for commercial properties.

Alma Media operates in 12 countries in Europe and employs approximately 1,700 professionals. Alma Media’s revenue from continuing operations was EUR 305 million in 2023 of which the share of digital business was 82%. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.fi/en/.