Sanoma Corporation, Press Release, 8 October 2012 at 9:15 CET+1On 16 August, Sanoma News announced the start of programme targeting to structural changes. The purpose of the programme was to broadly assess the product selection, processes and number of personnel. The start of co-operation negotiations in Sanoma Digital Finland and Sanoma Lehtimedia was announced at the same time. The co-operation negotiations have now been completed in both units.As a result of the co-operation negotiations, it has been decided to discontinue the print Keltainen Pörssi paper. The last issue of the paper will be published on 26 October. In addition, Sanoma Digital functions are centralised to Helsinki.Structural changes in Sanoma Lehtimedia are mostly targeted to the Kymen Sanomat organisation. Changes are also targeted at Uutisvuoksi, Sanoma Lehtimedia’s Imatra editorial office and the organisations of Lehtimedia´s sales and management.The co-operation negotiations result in the termination of the work relationship of 12 employees in Sanoma Digital and 11 employees in Sanoma Lehtimedia. In addition, changes to the essential conditions of work relationships, such as location of work or work time, will be made for 17 employees in Sanoma Digital and 18 employees in Sanoma Lehtimedia. The overall effect equals a total of 10 person-years in Sanoma Digital and 17.4 person-years in Sanoma Lehtimedia.”In the rapidly changing operation environment we must both intensify and constantly improve our operations. The purpose of the changes is to for their part ensure that we can maintain our competitiveness also in the future,” says Pekka Soini, CEO of Sanoma News.The ongoing co-operation negotiations of Sanoma Kaupunkilehdet in Sanoma News will be completed approximately on 24 October 2012.Sanoma News’ structural savings programme is part of overall Sanoma Group transformation process. In that context Sanoma Magazines Finland has also announced its plans to reorganize its operations. Similar programmes are in progress in other Sanoma units and countries, too. Our target is to be in the forefront of the market development and secure our good performance and profitability in a changing and digitalising operating environment, said Harri-Pekka Kaukonen, President and CEO of Sanoma, in a release on 16 August 2012.Additional informationPekka Soini, CEO, Sanoma News, tel. +358 9 122 2000Sanoma News is the leading newspaper publisher in Finland, and its products in both print and digital format have a strong presence in the lives of their readers. In addition to Helsingin Sanomat, the largest daily in the Nordic region, the division publishes Ilta-Sanomat, Finland’s largest quality tabloid and Taloussanomat, the number one digital financial media, as well as regional newspapers. Sanoma News is also among the most significant digital actors in Finland. Sanoma News is part of the Sanoma Group, a strong European media group operating in diverse fields of consumer media and learning in 20 countries.