The case is updated
Story House Egmont is taking action as a result of the negative result in 2023 and the challenges in the pressured media market, the company writes in a press release.
“Unfortunately, this also entails a reduction in staffing of 60 man-years in Norway”, it says further.
– The trend from 2023 has unfortunately continued into 2024. The macroeconomic tendencies are fixed, with high prices and a low krone exchange rate, and retail and advertising revenues are lower than we had hoped for, says managing director of the media section of Story House Egmont, Per Kjellanderin the press release.
– The savings plan last year was unfortunately not enough. We will have to further reduce costs and staffing in the Norwegian business in order for it to be profitable and financially sustainable, he continues.
The employees of Story House Egmont in Norway have today been informed about the upcoming reorganization and downsizing.
An open offer of severance packages and gift pension will be made to all employees.
The downsizing will affect both the editorial environment as well as sales, marketing and joint functions such as IT, technology and finance. In addition, some areas that lie outside the strategic core areas are being discontinued, Egmont states.
– We hope that we will be able to get through this downsizing with the greatest degree of volunteering. That is why we have adjusted the final packages, so that those of our talented employees who choose to accept, get the best possible start on a new chapter in their working life. In addition, we offer contributions to further education or career guidance, says Kjellander.
