At the end of last week, the Israeli Journalists Association declared a work dispute on behalf of the journalists and editorial staff of the "Globes" financial newspaper. Management of the newspaper is planning streamlining measures, including the laying off 60 of the newspaper's 300 employees, half of whom are journalists and editorial staff. Among other things, the "Globes This Evening" daily consumer magazine and the "Firma" monthly media magazine are slated for closure.
A workers meeting took place last Wednesday, at which the committee of the journalists and editorial staff received the workers' backing for declaring a work dispute.
"Globes" CEO Eitan Madmon said, "Globes" is in the midst of changes in content. The core subjects of finance and business, with which "Globes" is identified, will be strengthened, while the "This Evening" magazine will be cut back and merged with the news section. The "Firma" magazine will be closed, and some of its content and projects will be absorbed in other supplements. Publication of the "Madad Hamutagim" (Brands Index) will continue.
"The goal of the changes is to bolster and highlight the added value of "Globes," and adapt it to the economic situation of the media world in general, and that of "Globes" in particular. The planned changes are designed to ensure the ability of "Globes" to function as an independent business, without any need for external financing.
"All the employees' rights, payments, funds, executive insurance, and relevant funds accruing to each employee are fully guaranteed and safe. "Globes" management very much respects and appreciates its employees and the committee representing the journalists.
"There are times in life when difficult and painful decisions must be made, and that is exactly where "Globes" is now. Management's responsibility is to act immediately and with determination to pull the newspaper out of its crisis. Our hearts, feelings, and understanding go out to everyone whose livelihood will be lost as a result of this difficult, arduous, and necessary measure."
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015