Prisma Group, number one magazine press in France, announced Monday to employee representatives a plan to cut 261 jobs, representing 40% of its workforce, according to CGT.
“In total, the implementation of this project could result in up to 279 maximum job cuts for economic reasons out of the 650 positions as of January 31,” according to a document sent to AFP regarding this group taken over by associates of billionaire Vincent Bolloré three months ago.
Since September, the editorial director of Prisma Media has been Serge Nedjar, who is also the head of CNews news channel, and the vice-president of the group, Gérald-Brice Viret, is also the general manager of Canal+ France.
“It’s a real carnage,” reacted Emmanuel Vire, CGT union delegate of the group. An employee general meeting is planned in the afternoon, during which Gérald-Brice Viret is expected to speak. Around 90 journalist positions are affected. A first information-consultation meeting of the social and economic committee (CSE) is scheduled for Friday.
Prisma Media includes numerous titles such as Capital, Geo, Femme Actuelle, Voici, Télé-Loisirs and, since early December, Ici Paris and France Dimanche, acquired from CMI France, controlled by Daniel Kretinsky. Some versions and special editions will be discontinued, like Geo History and Femme Actuelle Games.
Prisma had indicated in December that such a staff reduction plan was in the works, originally targeting a third of employees. This is the third wave of departures in two years within the group, under the control of the conservative billionaire since 2021.
“Prisma Media will do everything in its power to minimize the impact of the plan on its employees and will mobilize the resources of the Louis Hachette Group (owner of Prisma) to facilitate the reassignment of affected employees,” the document from the group stated.
Contacted by AFP, the direction of Prisma planned to respond later. Prisma Media is part of the Louis Hachette Group, born at the end of 2024 from the split of Vivendi.
