Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
TV 2, the largest commercial television station in Norway, will reduce its staff by 177 employees. CEO Olav T. Sandnes announced in May 2016 that the company had to cut its costs by NOK 350 million (EUR 39 million) before 2020. 64 employees have since accepted severance packages. At a meeting for all employees on 29 September 2016, it was made clear that the company will reduce its staff by another 113 full-time equivalents, and that costs will have to be cut further. The cuts will affect various parts of the company and include a major restructuring of the news division, where 23 jobs will be cut and other positions moved from Bergen to Oslo. The company states in a press release that the goal is to complete the restructuring with "as many voluntary measures as possible". The restructuring will result in less resources for traditional TV production, while additional resources will be put towards the streaming service TV 2 Sumo in a bid to compete with Netflix on the Norwegian market.
Union representative Stein Akre has expressed worry that the cuts may render TV 2 unable to retain its status as commercial public broadcaster, which entails partial state funding provided that the broadcaster meets several criteria including comprehensive daily news coverage. The union has also stated that the severance packages are not remunerative enough, if not enough employees choose to accept the offers, the company will steer towards direct dismissals.
Eurofound (2016), TV 2, Internal restructuring in Norway, factsheet number 88756, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88756.
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