Alma Media Corporation Stock Exchange Release April 26, 2012 at 9:00 am (EEST)
COOPERATION NEGOTIATIONS AT ALMA MEDIAPARTNERS OY ENDED
Alma Mediapartners Oy, a subsidiary of Alma Media, will reorganise and rationalise its operations to accelerate the implementation of its renewing strategy. The statutory cooperation negotiations, related to these measures and concerning 99 employees, started in March and ended this week. As a result of the negotiations, the number of employees will be reduced by 28 person-years. Out of these, 13 person-years will be reduced through lay-offs and the rest, for instance, through terminating temporary employment contracts. At the beginning of the negotiations, the employer anticipated that the number of employees may decrease by a maximum of 35 person-years as a result of the negotiations.
The objectives of the reorganisation and rationalisation of the operations as well as of the strategy renewal are to improve the competitiveness and operational preconditions of Etuovi.com and the other services of Alma Mediapartners, as well as to secure the financial position of Alma Media's Marketplaces business area. The changes reflect the recent development in the competitive environment of the real estate advertising market.
Alma Mediapartners is owned by Alma Media Corporation (65%) and Arena Partners, the development company of newspapers in Central Finland (35%).The service brands of Alma Mediapartners are Etuovi.com, Vuokraovi.com, Autotalli.com and MyyJaOsta.com.
ALMA MEDIA CORPORATION
Rauno Heinonen, Vice President, Communications and IR
For further information, please contact:
Riikka Wulff, Managing Director, Alma Mediapartners Oy, tel. +358 40 777 8299
Distribution: NASDAQ OMX Helsinki Stock Exchange, principal media
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 3,000 professionals. The company's net sales in 2011 totalled MEUR 316.2 with an operating margin of 13.3 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.com.