Domenica, 21 Ottobre 2018
MILAN

RCS publishing group to sack 800 employees

English
© ANSA

Milan, February 11 - The chief executive officer of
the RCS publishing group, which owns Italy’s biggest national
newspaper and a number of major Italian magazines, told unions
on Monday the group plans to lay-off 800 of its nearly 5,000
employees.
CEO Pietro Scott Jovane, along with the head of RCS
personnel, also told unions the group will either shutter or
sell 10 of its magazines.
The magazines concerned represent 20% of the group's
revenues and jobs for 90 journalists and graphic artists. Their
titles are A, Bravacasa, Yacht & Sail, Max, Europeo, Astra,
Novella, Visto, Ok Salute, and the group’s crossword puzzle
department.
Three-quarters of the layoffs - or 600 - will be in Italy,
and will affect both journalists and non-editorial staff.
Jovane also announced plans to vacate the historic
downtown Milan headquarters of its two flagship newspapers.
The national daily "Il Corriere della Sera" and the sports
paper "La Gazzetta dello Sport", will be moved to the publishing
group’s seat in the city’s northeastern periphery.
Journalists at both papers are meeting separately Monday
evening to decide how they will respond.
RCS stock on the Milan stock exchange was nearly unmoved by
the announcement, falling 1.13% to 1.15 euros per share.

© Riproduzione riservata

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