German media giant RTL cuts 600 jobs

Media giant RTL is cutting around 600 jobs as part of a restructuring program amid difficult economic conditions, CEO Stephan Schmitte said.

"There are two major challenges that we need to overcome to succeed in the long term. One of these challenges is the profound change in the media market and the other is the difficult economic situation," he stressed.

According to RTL Deutschland, the 600 positions affected include full-time and part-time roles.

The restructuring aims to be implemented in a socially responsible manner.

"As socially responsible, respectful and transparent as possible in such a difficult situation," Schmitter added.

"The social plan we negotiated with the works council aims to avoid job cuts as much as possible," Schmitter said.

Affected employees will be relieved through phased retirement, contract reduction payments and other offers. 

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