Agence France-Presse Cutting Jobs
Posted on 10/22/2018 by Jim Pickerell | Printable Version |
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The CEO of Agence France-Presse Fabrice Fries has announced a "transformation plan" which will cut the number of employees by 5% at the end of 2017 in order to bring net profit of the company into equilibrium by 2021.
The plan aims at a net deletion of 125 positions over five years, without forced departures. These job cuts will allow management to limit the growth of the AFP charges, which, without "deep corrective action", coupled with slight erosion revenue, would result in a cumulative operating deficit of € 90 million over the next five years.
The plan provides for the non-replacement of 160 natural departures, and 35 new recruitments. The company also knows that 258 employees will reach 65 by 2023, two thirds of journalists. The net deletions would be between 85 in technical and administrative staff, and 40 in journalists.
At the same time, the management wants to implement, as part of this "transformation plan", the business growth objective announced in July by Fabrice Fries, which aims to generate 30 million euros in additional commercial revenue over 5 years, thanks to investments in the image (video, photo) segment of the business.
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Jim Pickerell.
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