Tamedia's Digital Transformation: TX Group Announces Major Job Cuts

Tamedia's Restructuring Announcement

In a recent announcement, TX Group has revealed plans to lay off approximately 290 employees as Tamedia shifts its focus toward digital growth. While the company's half-year results remain stable, the ongoing pressure on traditional media operations has necessitated this strategic realignment.

The Impact of Layoffs

• 200 full-time positions will be cut from printing operations.
• 90 roles affected in editorial sectors.
• Concentration of printing activities in Bern, leading to the closure of facilities in Lausanne and Zurich.

As TX Group emphasized, these cuts are subject to consultation processes and social plans, including early retirement options. CEO Jessica Peppel-Schulz mentioned the importance of these changes to secure Tamedia's success in the digital era.

Current Financial Performance

Despite the layoffs, TX Group's overall revenue remained stable at 461 million Swiss francs in the first half of 2024. Digital platforms have positively influenced financial outcomes, although declining ad revenues at Tamedia and other print operations remain challenges.

While Tamedia has seen an increase in subscriptions, the drop in advertising revenue has been significant. TX Group aims to address these challenges through a focused digital strategy that prioritizes quality journalism while reinventing its business model.