Schibsted layoffs: Norwey’s online classified ads group to cut 250 jobs in cost drive

Norwegian online classified ads group Schibsted said that it will cut around 250 jobs in the Nordic region as part of a restructuring plan to reduce costs and boost efficiency. Schibsted recently divested its legacy news media business and now operates online marketplaces for real estate, jobs, cars, travel and other services in Norway, Sweden, Denmark and Finland.

“We are now in a position to start taking decisive measures to improve our profitability as a more focused company, and to adjust to the macroeconomic environment,” Schibsted Marketplaces CEO Christian Printzell Halvorsen said as per news agency Reuters. 

“This is not a one-off, but rather the start of a journey of continuous improvement and cost focus,” he added.