Syndicom criticizes Ringier's profit increase

Ringier has generated profitability on the backs of its employees, according to the Syndicom trade union. The increase in profits was due to the closure of three Swissprinters printing plants.

Ringier increased its profits before and after depreciation and amortization by 55 percent and 41 percent, respectively ( reported). With an Ebitda of 9.1 percent (2011: 5.6 percent), the company is proving to be very profitable. However, according to Syndicom, the decline in sales is almost entirely due to the closure of the three print shops in St. Gallen, Schlieren and Renens near Lausanne, as a result of which the Group lost orders.

For the employees and above all for those laid off, it sounds cynical when Ringier justifies the "good annual result" among other things with the "sustainable implementation of cost measures in all areas and countries" and writes that the Swissprinters printing plant IRL-Renens, where 120 people were laid off, "was transferred to a new constellation," the union said in a statement. Almost at the same time, on the evening of April 16 and thus only one day before the annual media conference, the arbitration board of the canton of Vaud had to take note of the fact that Ringier and Swissprinters finally refused to pay the dismissed employees an appropriate severance payment.

The "good annual result" achieved as a result of the closures in St. Gallen, Schlieren and Renens would have made it possible to pay the dismissed employees a decent severance payment and set up a social plan worthy of the name, criticizes Syndicom. Ringier only wanted to "increase the added value of the capital invested" and put the dignity of the employees second. This is one of the reasons why Michael Ringier praised his group in the annual report as "one of the most aggressive media companies". Syndicom is also annoyed by the fact that the annual report was printed in the Czech Republic instead of in one of its own Swiss printing plants. For reasons of economy, one suspects.

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