Wednesday March 4, 10:12 AM
Vocento to halve workforce at ABC daily paper
MADRID, Mar. 4 (Reuters) - Spanish media group Vocento (Madrid: VOC.MC - news) said it was cutting half the workforce at its ABC daily
newspaper, as the economic downturn continues to hit the advertising sector.
The layoffs will affect 234 workers out of a total of 450, of which 80 are from the editorial side and 100 from the printing division, Vocento said in a statement on Wednesday.
The reasons behind the decision are 'economic, organisational and production-related,' it said, adding management was in talks with unions and employees.
At the beginning of the year, Vocento announced plans to lay off about 100 employees at its free paper Que.
At 0945 GMT, Vocento shares were down 0.9 percent at 3.23 euros.
(Reporting by Robert Hetz; Writing by Judy MacInnes; Editing by Dan Lalor)
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