Aamulehti’s statutory personnel negotiations have been concluded

Alma Media Corporation         Press Release                  29 November 2018 at 10.05 am

AAMULEHTI’S STATUTORY PERSONNEL NEGOTIATIONS HAVE BEEN CONCLUDED

The co-determination negotiations initiated by Alma Media Kustannus Oy in October and affecting a total of 100 Aamulehti editorial staff have been concluded. The result of the negotiations led to reductions corresponding to 11 person-years. All reductions were achieved through severance packages. In addition, for six employees new positions were found through relocation or changes of job description.

Alma Media Kustannus Oy employs approximately 300 persons. The maximum reduction need stated at the start of the negotiations was 17 person-years.

The other units of Alma Media Kustannus Oy that are part of the Alma Consumer business segment and the employees of the printing and distribution company Alma Manu Oy and Alma Media Suomi Oy were not included within the scope of the negotiations.

As a result of these arrangements, Alma Media will recognise an estimated expense of MEUR 0.5 in its result for the fourth quarter of 2018. Overall, the Alma Consumer business segment will target cost savings of approximately MEUR 2.0 million in 2019.

For more information, please contact: Kari Kivelä, Senior Vice President, Alma Consumer, tel. +358 10 665 2032

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 digitalisation, 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 2,250 professionals (excluding delivery employees), of which approximately 30% work outside Finland. Alma Media’s revenue in 2017 was EUR 367.3 million. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.

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