The Ringier Axel Springer Switzerland group cuts eight positions in the editorial staff of the magazine “L’Illustré”, including four redundancies and four early retirements.
The magazine L’Illustré of the press group Ringier Axel Springer Switzerland is cutting its workforce.
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The editorial staff of the magazine “L’Illustré” is reorganizing and cutting nearly a quarter of its workforce due to a sharp drop in advertising revenue, said Tuesday evening the group Ringier Axel Springer Switzerland. It cuts eight positions, including four layoffs and four early retirements.
“I deeply regret that we have to separate ourselves from a number of colleagues whom we greatly appreciate. Such a decision is particularly painful. We are aware, however, that this measure is inevitable if we want to preserve the existence of L’Illustré “, reacted Michel Jeanneret, editor-in-chief of the magazine Romand, quoted in a press release.
For the dismissed employees, additional measures going beyond the legal prescriptions are implemented, specifies for its part the editor. From now on, an editorial staff of 23 will constitute the journalistic heart of “L’Illustré”, he specifies. It will be supported by a reinforced pool of independent employees, called in a targeted manner as needed.
More than 50% drop in advertising
“With the team thus restructured and more frequent use of freelancers in French-speaking Switzerland, we will do everything in our power to remain what we have been for our readership for 99 years,” said Michel Jeanneret.
For several years, the decline in advertising revenues has put the newspaper and magazine market under very strong pressure, the editor recalls. “L’Illustré” has also faced this development for the past five years or so and the economic consequences of the coronavirus crisis have worsened the situation, he said.
“The Illustrated has a well-established place on the market in French-speaking Switzerland. Its readership has even increased in 2019 and it is still very popular with the public. However, we must establish new foundations for the future of the title, since advertising revenues have decreased by more than 50% in the last six years, “explains Alexander Theobald, CEO of Ringier Axel Springer Switzerland.
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Posted today at 6:40 p.m.-
