Press Release 16/08/2012 15:00Sanoma News, part of Sanoma Group, has started a programme targeting structural savings. The programme will broadly assess News' product selection, processes and number of personnel. The programme is a part of a process that concerns the whole Sanoma Group."We're looking to speed up the internal transformation of the whole group. Our target is to be in the forefront of the market development and secure our good performance and profitability in a changing and digitalising operating environment," says Harri-Pekka Kaukonen, President and CEO of Sanoma Corporation.All business units and operations of Sanoma News will be reviewed within the programme. It is expected that the programme will result in personnel decreases and changes in product selection."The market situation is volatile, and we are preparing for a period of slow economic growth. The general market situation has a direct effect on media markets and, thus, on our revenue. In addition, the value added tax on print subscriptions has sped up the transfer of media consumption online," says Pekka Soini, CEO Sanoma News.At this point, plans include actions to improve the performance of the unprofitable newspapers at Sanoma Lehtimedia as well as the discontinuation of the print Keltainen Pörssi paper. The statutory employer-employee negotiations related to this were announced today. Other actions and possible personnel effects will be announced in accordance with the negotiation procedures, as plans will be specified in more detail."We wish to ensure sufficient resources to develop our business operations also in the future. Therefore, we are focusing our operations, changing our structures, seeking more efficient operating models and tightening cooperation," says Soini.Sanoma is responding to changing markets not only with savings actions but also with continuous development work. Sanoma News has a large number of ongoing development and growth projects, such as the complete redesign of Helsingin Sanomat. These projects will continue as planned."The depth of adaptation depends on how well we succeed in sales and development projects. We will ensure resources and stable working conditions to complete these important changes," promises Soini.Additional information: Pekka Soini, CEO, Sanoma News, tel. +358 9 122 2000Sanoma News is the leading newspaper publisher in Finland, and its products in both print and digital format have a strong presence in the lives of their readers. In addition to Helsingin Sanomat, the largest daily in the Nordic region, the division publishes Ilta-Sanomat, Finland's largest quality tabloid and Taloussanomat, the number one digital financial media, as well as regional newspapers. Sanoma News is also among the most significant digital actors in Finland. Sanoma News is part of the Sanoma Group, a strong European media group operating in diverse fields of media in 20 countries.
Sanoma transformation process proceeding - Sanoma News starts programme targeting structural savings
Sanoma Media Finland Press Releases