According to Der Spiegel news magazine, media giant Axel Springer AG, which publishes the paper – Europe’s most-read daily – has set aside €50 million for “structural changes.”
"Axel Springer clearly believes that serious cuts are needed in its newspaper activities," the magazine said.
The publishing group says “various scenarios” are under consideration. One option being reviewed is the transfer of employees at Bild daily, the paper’s website and the Berlin local tabloid BZto a subsidiary, Bild Digital, where pay and conditions are less favourable than those enjoyed by colleagues working on the print edition.
Bild reportedly contributed €300 million to Axel Springer last year.
A spokeswoman for the group said “we want to create conditions for economically successful multimedia journalism,” and stressed that no concrete decisions have been made yet.
The Local/kkf
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