Alma Regions’ statutory personnel negotiations concluded

Alma Media Corporation         Stock Exchange Release       28 November 2017 at 1:45 PM (EET)

ALMA REGIONS’ STATUTORY PERSONNEL NEGOTIATIONS CONCLUDED

The statutory personnel negotiations held by Alma Regions, the publisher of Alma Media’s regional and local papers, have been concluded. The number of employees will be reduced by 35 person-years. Most of the reductions will be implemented through severance packages or retirement solutions. The number of employees to be laid off will be four at most.

The reduction achieved through severance packages offered by Alma Regions will be 19 person-years and the reduction through retirement solutions will be nine person-years. Three persons will be transferred to other tasks. As a result of these arrangements, Alma Media will recognise an estimated expense of MEUR 1.0 in its result for the fourth quarter of 2017.

The maximum reduction need stated at the start of the negotiations was 35 person-years. Some of the reductions will be realised at a later phase; however, no later than by autumn 2018. The solution does not involve structural changes in the newspapers. Some functions will be centralised and some will be purchased externally.

The reductions affect all employee groups, mainly in Tampere and Pori. The negotiations concerned the entire Regions publishing business, excluding the newspaper business in Lapland.

As a result of the negotiations, just under one third, or 10 person-years, of the reductions are directed at editorial teams, while the rest affect other employee groups. In the editorial teams, the reductions will be accomplished without lay-offs. In addition, the number of employees in the editorial teams decreased by four before the start of the negotiations through natural attrition.

Alma Media Kustannus Oy, the company publishing Alma Media Group’s regional, local and town papers, is part of the Alma Regions business unit. Its best-known brands are Aamulehti, Satakunnan Kansa and Lapin Kansa. In addition, the printing and distribution company Alma Manu Oy is part of the same business unit.

For more information, please contact:

Kari Juutilainen, Senior Vice President, Alma Regions
Tel. +358 50 435 4159

Alma Media in brief

Alma Media is a media company focusing on the service business and journalistic content. The company’s best-known brands are Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth for its customers by utilising the opportunities of digitality, including information services, system and expert services and advertising solutions. Alma Media’s operations have expanded from Finland to the Nordic countries, the Baltics and Central Europe. Alma Media employs approximately 2,300 professionals (excluding delivery personnel), of whom approximately 30% work outside Finland. Alma Media’s revenue in 2016 was EUR 353.2 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.