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Norway’s Schibsted to cut 250 jobs in cost drive
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OSLO (Reuters) – Norwegian online classified ads group Schibsted will cut around 250 jobs in the Nordic region as part of a restructuring plan to reduce costs and boost efficiency, the company said on Tuesday.
OSLO (Reuters) – Norwegian online classified ads group Schibsted will cut around 250 jobs in the Nordic region as part of a restructuring plan to reduce costs and boost efficiency, the company said on Tuesday.
Schibsted, which recently divested its legacy news media business, operates online marketplaces for real estate, jobs, cars, travel and other services in Norway, Sweden, Denmark and Finland.
“We are now in a position to start taking decisive measures to improve our profitability as a more focused company, and to adjust to the macroeconomic environment,” Schibsted Marketplaces CEO Christian Printzell Halvorsen said.
“This is not a one-off, but rather the start of a journey of continuous improvement and cost focus,” he added.
(Reporting by Terje Solsvik; Editing by Eileen Soreng)
Restructuring refers to the process of reorganizing a company's structure, operations, or finances to improve efficiency and profitability. This often involves changes in management, workforce, or business strategy.
Corporate strategy is a comprehensive plan formulated by a company's leadership to achieve its long-term goals and objectives. It encompasses decisions regarding resource allocation, market positioning, and competitive advantage.
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