Sanoma Corporation, Press Release, 19 October 2015 at 9:45 CET+1

Sanoma today announces the completion of co-operation negotiations concerning Sanoma Media Finland and Sanoma’s Group-wide support functions.

The total number of employees affected by this programme is 241, slightly lower than the original estimated maximum of 280, due to solutions found during the negotiations.

Meetings with affected employees will commence today and be concluded by 21 October 2015. Sanoma is actively supporting the employees affected through an extensive change package that includes training and help with re-employment.

The negotiations are part of and in line with the EUR 50 million cost saving initiative announced on 25 August 2015 and the company’s continuous adjustment of its cost base. In Sanoma Media Finland, savings are being made across the areas of distribution and printing, as well as efficiency improvements in content creation, marketing and sales. Sanoma’s Group-wide support functions are being streamlined and brought in line with business requirements.

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