Schibsted Media, the Norwegian media firm behind the country’s largest newspapers, has confirmed that it intends to cut the equivalent of 350 full-time positions during the course of this year. Advertising revenues have been hit hard since the rise of social media, while costs keep rising.
“It’s no easy decision to have to let valued employees go, but given how the economic situation has developed, there’s no other way,” Schibsted Media’s chief executive Siv Juvik Tveitnes stated on Wednesday. She added that staff reductions “are necessary to ensure that we can continue to deliver independent journalism of high quality, to innovate and strengthen our position in a steadly more competitive media branch.”
Schibsted Media controls newspapers VG, Aftenposten, Bergens Tidende, Stavanger Aftenblad and the business news service E24 in Norway. It also owns the podcast platform Podme and publishes Aftonbladet and Svenska Dagbladet in Sweden. Cuts among its total of 2,800 employees will be spread over all publications and websites.
NewsinEnglish.no staff
