Alma News Media plans changes in its product portfolio – initiates change negotiations
Alma Media Oyj Press Release 30 September 2024
ALMA NEWS MEDIA PLANS CHANGES IN ITS PRODUCT PORTFOLIO – INITIATES CHANGE NEGOTIATIONS
Alma News Media speeds up the digital growth strategy and considers the possibility of closing down Kauppalehti Optio, Fakta and Mediuutiset. In addition, the plan is to reorganise the work in parts of the editorial departments. Associated with these plans, Alma News Media begins change negotiations.
The change negotiations topics to be covered include the plan for improving the efficiency of production and business of Kauppalehti Optio, Fakta and Mediuutiset as well as the reorganisation of functions and because of these, any measures that may be applied to personnel and the grounds, effects and alternatives of these measures.
The need for operational restructuring is due to the weak profitability of these media products. The negotiations are also based on Alma News Media's strategic change to enhance the focus on digital media business.
In addition, the preliminary plan is to reorganise editorial work in e.g. technical, automotive and lifestyle journalism. The aim of the reorganisations of operations is to improve the productivity of editorial work and to partially dismantle overlapping operations. Mikrobitti magazine is planned to be transferred to consumer media within Alma News Media.
“Advertising-funded print media has undergone a major change since the early 2000s and, unfortunately, the economic recession has made the situation in Finland even worse. However, many of Alma News Media's products are already highly digitalised and will be able to cope with tough international competition in the future. Our plan is to further sharpen the news coverage of digital Kauppalehti and Iltalehti in particular and to strengthen their value to subscribers and advertisers. We will continue to develop digital feature journalism and the video and audio content of our products,” says Juha-Petri Loimovuori, EVP, Alma News Media.
In addition to changes in job descriptions, possible dismissals of personnel and related re-training issues are also part of the matters to be negotiated. According to the preliminary plan, the number of staff may decrease due to planned actions by a maximum of thirty person-years. The negotiations will affect about eighty people in total. Alma News Media's editorial staff totals nearly three hundred people.
For more information:
EVP Juha-Petri Loimovuori, Alma News Media
Tel. +358 500 511036
E-mail: juha-petri.loimovuori(@)almamedia.fi
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/.