Business News
Spanish media group Prisa to slash 2,500 jobs
Jan 25, 2011, 15:18 GMT
Madrid - The debt-ridden Spanish media conglomerate Prisa is to slash 2,500 jobs, amounting to 18 per cent of its staff, the company said Tuesday.
Prisa told the stock market watchdog CNMV that the cuts would affect 2,000 employees in Spain and 500 in Portugal and the Americas.
The job cuts were to be carried out through arrangements such as incentives or early retirement by 2012. Prisa said they were part of a restructuring drive made necessary by recent developments in the media market.
In 2010, the US investment company Liberty Acquisition Holdings bought a majority stake in Prisa, Spain's biggest media group and owner of El Pais, the country's top daily.
Read more about Spain Media
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
