Saint-Paul, the parent-company of Luxemburger Wort, Luxembourg Times, and Contacto will initiate a redundancy programme for 80 of their existing jobs. Saint-Paul Luxembourg S.A. and régie.lu S.A. will both be affected by the programme.
According to RTL sources, the personnel was informed about the decision via a Skype conference call by CEO Paul Peckels on Thursday morning. An internal memo by the board of administrations further conveys that the measures were taken to assure that the company could remain profitable after the crisis.
The two affected groups of Saint-Paul both lost several million euro in profits between March and May of 2020, which could not be compensated in the following months. Saint-Paul thus wants to prioritise the digital sphere in the future.
Negotiations on the redundancy programme are set to begin on Monday.
