Forma Publishing Group is set to cut back some 30 positions

Forma Publishing Group is set to cut back some 30 positions in its Swedish operations. The change which will affect every tenth employee is expected to be completed in January.

Forma’s operations are divided into three business areas: Forma Magazine, Forma Books and Forma Contract. Forma Magazine has experienced a negative trend in Finland and the Baltic countries during the year.

Forma Books is losing money on its translated fiction publications. In both cases development has been affected by structural changes and the recession.

“Against the background of weak development within a couple of our operations and markets, we want to prepare quickly as the business climate and competition become tougher,” comments Forma’s President, Patrik Widlund.

“We need to be even more cost effective and self-interested when setting our priorities. We will mainly be cutting back within administration, on the other hand we will continue our aggressive policy within our revenueearning segments,” Widlund continues.

Forma has seen rapid growth, primarily through acquisitions, and has annual sales of almost SEK 900 M. Acquisitions in recent years include B. Wahlström Förlag, Damm Förlag, OTW, Leva, Hälsa and Energica Förlag.

“These are important acquisitions that provide us with economies of scale, good positions in our markets and improve our offering to customers. The changes we are now implementing will increase our opportunities still further,” Widlund concludes.

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For further information, please contact:
Patrik Widlund, President of Forma Publishing Group: +46 705 294200

Forma Publishing Group AB är en av marknadens ledande aktörer inom tidskrifter, böcker och tv-produktion. Forma har verksamhet i Sverige, Finland och Baltikum och ägs av börsnoterade Hakon Invest AB. För mer information besök vår hemsida www.formapg.se.