Personnel negotiations at Monster Oy ended

Alma Media Corporation    Press release                      19 May 2009

 

PERSONNEL NEGOTIATIONS AT MONSTER OY ENDED

 

Monster Oy, the online recruitment service belonging to Alma Media Group, has ended the statutory personnel negotiations started in April. The negotiations affected all employees, in total 28 persons. The negotiations concerned the streamlining and reorganising of Monster’s operations and the impacts that these actions may have on employees.

 

As a result of the negotiations, the number of employees decreased by eight. In advance it was estimated that nine employment contracts would be terminated at the maximum. One of these eight persons will take a study leave, one will begin her materinity leave and six persons were laid off. Additionally, the negotiations resulted in cost savings thanks to decreases in marketing expenses and real estate rents. Monster Oy will centralise its customer service functions to Helsinki, Finland.

 

For further information, please contact:

Monster Oy, Olli-Pekka Mollberg, Managing Director, tel. +358 10 665 2290

 

Alma Media in brief

Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and online media. It’s best known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.

 

Net sales in 2008 totalled EUR 341million and the operating margin was over 14%. The company’s share is listed in the Mid Cap segment of the NASDAQ OMX Helsinki Exchange, trading code ALN1V.