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2016-02-24

Alma Media: Kauppalehti to start statutory personnel negotiations aimed at creating a new operational unit

Alma Media Corporation Press release 24 February 2016 at 1:30 p.m.

KAUPPALEHTI TO START STATUTORY PERSONNEL NEGOTIATIONS AIMED AT
CREATING A NEW OPERATIONAL UNIT

In accordance with the combination plan concluded between Alma Media
and Talentum, Talentum's business operations and Alma Media's
Financial Media and Business Services will be combined to form one
business unit in the course of 2016. As part of the process, the
companies have already agreed on a number of transfers of undertaking
regarding certain operations of Talentum Media Ltd and Talentum Ltd.
In connection with the transfers of undertakings, approximately 170
Talentum employees transferred as employees of Kauppalehti Ltd on 1
February 2016, retaining their current terms and conditions of
employment. The next step is to combine the organisations into a
single operational unit.

Kauppalehti Ltd will start statutory personnel negotiations for the
purpose of reorganising its operations. The negotiations concern a
total of approximately 230 persons working in the company's editorial
and media sales operations and their support functions, including the
employees who transferred to Kauppalehti Ltd from Talentum in
connection with the transfer of undertaking. The business unit
employs a total of 950 persons.

The aim of the reorganisation is to create a new organisational
structure that will not have overlapping functions and that will help
to shift the focus to digitalising media use in editorial and media
sales operations. According to the preliminary plan, the number of
employees may be reduced by a maximum of 35 person-years after the
planned actions.

- The employees of both companies - Kauppalehti and Talentum - are
talented professionals. However, since the companies have worked in
the same industry, it is clear that their operations overlap to some
extent. We are now planning how to remove the overlapping tasks and
create a new organisational and operational model that will remain
competitive in the changing media industry, Juha-Petri Loimovuori,
CEO of Kauppalehti Ltd says.

The reorganisation will not affect the business operations or products
of Talentum or Kauppalehti, these will remain as they are.

In relation to the combination process between Alma Media and
Talentum, the companies have previously announced information on
changes in the Talentum management, the management team of the new
business unit, and the name of the new business unit, Alma Talent.

More information:
Juha-Petri Loimovuori, CEO of Kauppalehti Ltd and Alma Talent, tel.
+358 010 665 2360

Alma Media in brief

Alma Media is a media company focusing on service business and
journalistic content. The company's best-known brands are
Kauppalehti, Talouselämä, Affärsvärlden, Iltalehti, Aamulehti,
Etuovi.com and Monster. Alma Media builds sustainable growth for its
customers by utilising the opportunities presented by digitality,
including information services, system and expert services and
advertising solutions. Alma Media's operations have expanded from
Finland to the Nordic countries, the Baltics and Central Europe. The
company employs approximately 2,500 professionals (excluding
distributors), of whom 30% work outside Finland. Alma Media's revenue
in 2015 was EUR 291.5 million. Alma Media's share is listed on NASDAQ
Helsinki. Read more at www.almamedia.com.

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http://news.cision.com/alma-media/r/kauppalehti-to-start-statutory-perso...

Författare WKR

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