Italy's RCS Mediagroup Prepares for Job Cuts, Closures

Chief executive officer Pietro Scott Jovane said the company will cut 800 jobs, 640 in Italy and 160 in Spain, and will sell or close 10 magazines.

PUBLISHING STORM: RCS Mediagroup, the Italian editorial giant that publishes the daily Corriere della Sera and counts Diego Della Valle as its main shareholder, is gearing up to make dramatic internal changes.

During an official meeting Monday with the European Works Council, which represents RCS workers in European countries where the group operates, RCS Mediagroup chief executive officer Pietro Scott Jovane said the company will cut 800 jobs, 640 in Italy and 160 in Spain. He also said that RCS is going to sell or close 10 magazines, including A, Bravacasa, Yacht & Sail, Max, Europeo, Astra, Novella 2000, Visto, OK and several crossword puzzle magazines. Ninety employees work for the affected titles.

In addition, Jovane did not discount the possibility of moving the Corriere della Sera and Gazzetta dello Sport editorial teams from their historic building in Milan’s Brera district to the RCS Mediagroup headquarters in the suburbs.

To protest these decisions, the Corriere della Sera journalists’ union is planning a 10-day strike, while the magazine journalists’ union has proclaimed a four-day strike that started Tuesday.

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