Alma News Media plans changes in its product portfolio – initiates change negotiations

Alma Media Oyj                               Press Release                  30 September 2024 

ALMA NEWS MEDIA PLANS CHANGES IN ITS PRODUCT PORTFOLIO – INITIATES CHANGE NEGOTIATIONS 

Alma News Media speeds up the digital growth strategy and considers the possibility of closing down Kauppalehti Optio, Fakta and Mediuutiset. In addition, the plan is to reorganise the work in parts of the editorial departments. Associated with these plans, Alma News Media begins change negotiations.  

The change negotiations topics to be covered include the plan for improving the efficiency of production and business of Kauppalehti Optio, Fakta and Mediuutiset as well as the reorganisation of functions and because of these, any measures that may be applied to personnel and the grounds, effects and alternatives of these measures. 

The need for operational restructuring is due to the weak profitability of these media products. The negotiations are also based on Alma News Media's strategic change to enhance the focus on digital media business. 

In addition, the preliminary plan is to reorganise editorial work in e.g. technical, automotive and lifestyle journalism. The aim of the reorganisations of operations is to improve the productivity of editorial work and to partially dismantle overlapping operations. Mikrobitti magazine is planned to be transferred to consumer media within Alma News Media. 

“Advertising-funded print media has undergone a major change since the early 2000s and, unfortunately, the economic recession has made the situation in Finland even worse. However, many of Alma News Media's products are already highly digitalised and will be able to cope with tough international competition in the future. Our plan is to further sharpen the news coverage of digital Kauppalehti and Iltalehti in particular and to strengthen their value to subscribers and advertisers. We will continue to develop digital feature journalism and the video and audio content of our products,” says Juha-Petri Loimovuori, EVP, Alma News Media. 

In addition to changes in job descriptions, possible dismissals of personnel and related re-training issues are also part of the matters to be negotiated. According to the preliminary plan, the number of staff may decrease due to planned actions by a maximum of thirty person-years. The negotiations will affect about eighty people in total. Alma News Media's editorial staff totals nearly three hundred people. 

For more information: 

EVP Juha-Petri Loimovuori, Alma News Media
Tel. +358 500 511036
E-mail: juha-petri.loimovuori(@)almamedia.fi