There is to be a comprehensive restructuring of the core brand of the Springer Group.
(Photo: dpa)
Dusseldorf, Berlin The Axel-Springer-Verlag is preparing a comprehensive restructuring of its core brand “Bild”. Some regional offices are to be closed, others to be merged, the Handelsblatt learned from several company insiders. The television channel Bild TV, which was launched in 2021, is also expected to shrink further.
This reorganization is expected to lead to significant job cuts. According to company circles, three-digit numbers are affected. The approximately 600 employees of Europe’s largest tabloid are to be informed about the plans on Monday, according to an internal statement. The publisher did not want to comment on a request from the Handelsblatt.
The German media business with its media brands “Bild” and “Welt” is considered a problem area for the Springer group. While the digital platforms for brokering jobs and real estate are growing, the Bild and Welt Group are suffering from a declining business. The financial investors Kohlberg Kravis Roberts (KKR) and the Canadian pension fund CPPIB, which are involved in Springer, are said to be supporting the conversion.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Further
Read on now
Get access to this and every other article in the
web and in our app.
Further