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Lagardère To Cut Nearly 1,000 Jobs
Lagardère, a French media group and magazine publishers, is cuting 700 to 1,000 positions according to Euro2Day.
Lagardère is shedding 700-1,000 jobs from its media division as part of an attempt to adapt its magazine, radio and television operations to the challenges and opportunities of the internet age.
The French group's media arm is dominated by its 259 magazines, which include Elle, Marie Claire, Paris Match and Car and Driver. It also includes the Europe 1 radio station and TV production companies.
On Thursday, it said that 7-10 per cent of the media division's 9,900 jobs would be cut and more than 20 underperforming magazines cease publication. It will allow some magazines to be produced under licence in countries where sales are too low to justify a direct presence. Advertising sales departments will be merged too.
It looks magazine and newspaper layoffs are an international problem as well.
