The German media giant RTL has reported plans to cut between 700 and 1,900 jobs in its magazine segment and focus on core brands that generate the highest revenues.
The group currently publishes 23 magazines, and the decision to cut jobs in this part of the business was made due to declining sales that could lead to financial losses.
They plan to focus on core brands such as Stern, Geo, and Brigitte and to shut down or sell their specialized editions, such as Geo Epoche, Geo Wissen, Brigitte Woman, and View.
They will also shut down the celebrity magazine Guido and Barbara, based on TV presenter Barbara Schoeneberger.
The group will retain 13 brands, including Stern, Stern Crime, and Brigitte, as well as the digital business of the family magazine Eltern and the culinary magazine Chefkoch, which according to RTL Group accounts for about 70 percent of sales.
By 2025, the company plans to invest around 80 million euros in this part of the business.
