At the end of 2011, Schibsted Media Group implemented measures to reduce the cost base in the Media House Scandinavia business area by NOK 190-210 million. Some of this effect relates to a reduction in the number of full-time employees by 160-200. These measures will be introduced during the period 2012-2014, with the majority during 2012. Restructuring costs of NOK 202 million are recognised as a consequence of implementation of measures to reduce the cost base.
The measures are aimed at operations in Media Norge and VG in Norway, as well as Schibsted’s operations in Sweden, primarily Aftonbladet.
Schibsted Media Group is continuously working on improvements in processes in order to be cost efficient.