Alma Media Corporation Press release 24 February 2016 at 1:30 p.m.
KAUPPALEHTI TO START STATUTORY PERSONNEL NEGOTIATIONS AIMED AT CREATING A NEW OPERATIONAL UNIT
In accordance with the combination plan concluded between Alma Media and Talentum, Talentum’s business operations and Alma Media’s Financial Media and Business Services will be combined to form one business unit in the course of 2016. As part of the process, the companies have already agreed on a number of transfers of undertaking regarding certain operations of Talentum Media Ltd and Talentum Ltd. In connection with the transfers of undertakings, approximately 170 Talentum employees transferred as employees of Kauppalehti Ltd on 1 February 2016, retaining their current terms and conditions of employment. The next step is to combine the organisations into a single operational unit.
Kauppalehti Ltd will start statutory personnel negotiations for the purpose of reorganising its operations. The negotiations concern a total of approximately 230 persons working in the company’s editorial and media sales operations and their support functions, including the employees who transferred to Kauppalehti Ltd from Talentum in connection with the transfer of undertaking. The business unit employs a total of 950 persons.
The aim of the reorganisation is to create a new organisational structure that will not have overlapping functions and that will help to shift the focus to digitalising media use in editorial and media sales operations. According to the preliminary plan, the number of employees may be reduced by a maximum of 35 person-years after the planned actions.
- The employees of both companies - Kauppalehti and Talentum - are talented professionals. However, since the companies have worked in the same industry, it is clear that their operations overlap to some extent. We are now planning how to remove the overlapping tasks and create a new organisational and operational model that will remain competitive in the changing media industry, Juha-Petri Loimovuori, CEO of Kauppalehti Ltd says.
The reorganisation will not affect the business operations or products of Talentum or Kauppalehti, these will remain as they are.
In relation to the combination process between Alma Media and Talentum, the companies have previously announced information on changes in the Talentum management, the management team of the new business unit, and the name of the new business unit, Alma Talent.
Juha-Petri Loimovuori, CEO of Kauppalehti Ltd and Alma Talent, tel. +358 010 665 2360
Alma Media in brief
Alma Media is a media company focusing on 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 presented by 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. The company employs approximately 2,500 professionals (excluding distributors), of whom 30% work outside Finland. Alma Media’s revenue in 2015 was EUR 291.5 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.