German media giant group to axe 500 jobs

Wednesday, Feb 08, 2023

BERLIN: German media giant RTL Group said on Tuesday it is cutting 500 jobs and will dump about 20 magazines in Germany due to the continued print media crisis and rising costs.

The jobs will be lost in the northern city of Hamburg, said RTL Group, which is a subsidiary of German media and publishing group Bertelsmann. RTL Group currently employs 7,500 people in Germany. It also plans to reorganise its portfolio of publications and concentrate on flagship titles, which represent about 70 percent of current sales, the group said.