Telegraaf Group posts loss, scraps 425 jobs

15th August 2008, Comments 0 comments

The Telegraaf Media Group in the Netherlands announces its plans to scrap 425 jobs after posting a loss of EUR 176 million in the first half of 2008.

15 August 2008

THE NETHERLANDS - The Telegraaf Media Group has announced its plans to scrap at least 425 jobs and says that compulsory redundancies are not out of the question. It made the announcement at the presentation of its half-yearly figures.

The group announced that for the first half of the year, it was posting a loss of EUR 176 million. This is a direct result of its investment in the German television company Pro Sieben Sat Eins.

The Telegraaf group also publishes the gossip magazine Privé and a number of regional newspapers. These include De Gooi & Eemlander and Noord-Hollands Dagblad. In total, the group employs just under 4,000 people.

The 425 redundancies will be made throughout the entire company. No further details have been made known.

[Radio Netherlands / Expatica]

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