Springer boss Döpfner announces after KKR entrance job reduction

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Axel Springer

Shareholder Friede Springer has made it clear: "We will remain a journalistic house."


(Photo: AP)

Berlin After the entry of the financial investor KKR Has knight-Chief Mathias Döpfner announced a job cuts, but the scope left open. "In sum, we will reduce jobs," said Döpfner the "Süddeutsche Zeitung" in a joint interview with the shareholder Friede Springer and the KKR European leader Johannes Huth. Springer has repeatedly restructured and adjusted costs in the past.

However, there was the limitation that the cost of the change should not be too high, so as not to spoil the next quarterly results, Döpfner said. Therefore, the measures should have been carried out piecemeal and over a longer period.

"Now we can do anything that makes sense faster," said Döpfner. On the assumption that this sounds like a big step, Döpfner said: "That does not just sound like a big step, that's one." According to his statement, 16,000 people are currently working for Axel Springer.

Which areas will be affected, Döpfner wanted to say "not yet". "Where digital growth succeeds, we will invest and hire or retrain employees wherever possible. Where there is a structural decline in sales, we need to restructure and reduce jobs. "

Asked to what extent the very big editors-in-chief of the "Bild" will be affected, Döpfner said he was extremely satisfied with the editors-in-chief of "Bild" and "Welt". "There may be reductions, but no spectacular changes. Basically, however, we will save more with the chiefs than with the Indians. "

Peace Springer said the company would continue to rely on journalism. "We remain a journalistic house." Even the deficient "world" will be continued.

KKR European leader Huth stated that they would invest and take over acquisitions. "We'll look at what's on the market after completing the deal," he said, adding that there was speculation that he was joining Autoscout or ebaySmall ads are interested. Moreover, KKR will remain longer than usual for financial investors. "We have time and will accompany the company for the long term. We can also imagine investing up to a decade. "

KKR goes to Springer for around 2.9 billion euros. The investment company should help finance the long-term growth planned by Springer. Many observers expect Springer to look even more at its expense. Employee representatives had shown concern and demanded the exclusion of redundancies.

More: The financial investor KKR joins the media group Axel Springer. As a result, the free float of the company falls below an important threshold.

Financial (t) KKR Axel Springer Mathias Döpfner Mergers & Acquisitions M & A Press (t) Electronic Publishing (t) Job Loss (t) Online Publishing (t) Labor market (t) Media (t) Interview (t) Media concentration (t) Press release (t) Investment fund (t) Springer (t) Ebay (t) Peace Springer (t) Mathias Döpfner (t) Johannes Huth (t) Newspapers (t ) Printing & Publishing

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