No transfers, but cost cutting and redefinition of everyday life. According to press sources, these would be the central points of the three-year business plan that the new CEO Il Sole 24 Ore Franco Moscetti he will present to the Board of Directors on Monday 20 February to relaunch the newspaper, which is struggling with serious financial difficulties.
According to rumors, one of Moscetti's objectives would be the reduction of format of the newspaper, with fewer pages and an almost fixed number.
Il cost cuttinghowever, it also involves cutting staff: the agreement with the CDR provides for 37 redundancies out of 230 journalists, fully operational by the end of January 2018. The agreement provides for the rotation of the cig (2 days a month) for everyone, waiting for 28 early retirements that will enter the layoffs at zero hours starting from 1 March; plus 9 voluntary exits or retirements. An agreement that would save about 10 million euros, to which would be added the cuts in contracts with some of the press agencies.
As mentioned, the plan does not provide for the sale of assets, although the aim will be to encourage the entry of new shareholders. An entry which would consequently lead to the dilution of the majority shareholder's controlling stake, Confindustria, which could drop from the current 67% to 51%.
