200 job cuts rumoured at German publisher Axel Springer

‘Structural changes’ threaten paper Berlin – Arabstoday Up to 200 jobs could be slashed at top German tabloid Bild, as its publishing group seeks to make some €20m ($26m) in cost savings, according to a media report on Sunday. Citing "several informed sources," newsweekly Der Spiegel said publishers Axel Springer were looking to cut between 170 and 200 jobs at Bild, the most widely read daily newspaper in Europe.
"Axel Springer clearly believes that serious cuts are needed in its newspaper activities" and is looking at making savings "totalling €20m," Spiegel said.
Spiegel noted that Axel Springer had set aside €50m for "structural changes" and said there would be redundancies at the group.
Employees at the Bild daily, the paper's website and the Berlin local tabloid B Z would be transferred to a subsidiary, Bild Digital, where pay and conditions are less favourable, according to Spiegel.
Bild said only there were "various scenarios" under consideration.
According to Spiegel, Bild contributes around €300m to Axel Springer's coffers.