Schibsted, the Norwegian online classified ads group, has announced plans to cut around 250 jobs in the Nordic region. The move is aimed at reducing costs and increasing efficiency.
This move comes after Schibsted recently divested its legacy news media business, now focusing on operating online marketplaces for real estate, jobs, cars, travel and other services across Norway, Sweden, Denmark and Finland. This is also said to be a part of the company’s efforts to improve its profitability, even while adjusting to the macroeconomic environment.
In a statement, Christian Printzell Halvorsen, CEO, Schibsted Marketplaces, confirmed, “This is not a one-off, but rather the start of a journey of continuous improvement and cost focus,” as reported by Reuters.
The restructuring plan underscores Schibsted’s commitment to adapting to current economic challenges while enhancing its market position and operational efficiency.
Schibsted,founded in 1839, is headquartered in Oslo, Norway. It operates prominent classified ad platforms across Europe, such as Finn.no in Norway, Blocket.se in Sweden, Leboncoin.fr in France, and Subito.it in Italy. In addition to online classifieds, Schibsted has a strong presence in media and publishing, owning major newspapers such as Aftenposten and VG in Norway, and Svenska Dagbladet in Sweden.
The company also offers various digital consumer services, encompassing online marketplaces and personal finance solutions, cementing its position as a key player in the European digital landscape.
