Sanoma Media Finland, which owns the country’s largest daily newspaper Helsingin Sanomat among an array of other outlets, is starting co-determination talks with the aim of cutting up to 80 jobs.
Some of the jobs affected by the restructuring plans - which the company said on Monday were intended to shore up stability to face changes in the media sector - could be turned into part-time positions.
Revenue from traditional media channels are on the decline, while at the same time media outlets are growing, according to Sanoma Media’s CEO Pia Kalsta.
“This is no surprise. The declines can be seen in print ad revenue and fewer subscriptions,” Kalsta said.
She said the firm needs to look for more effective ways to work and to reorganise operations, saying it is regrettable the changes require job cuts.
Sanoma Media currently employs about 1,750 people, and has an extensive portfolio of media outlets including newspapers, magazines as well as several radio and television stations.