The magazine's advertising revenues have "more than halved" in the last six years, the Ringier Axel Springer Group wrote in a statement on Tuesday evening. The Corona crisis has further exacerbated the economic situation.
L'illustré was able to increase its readership in 2019 and continues to be appreciated by the public, it adds. However, the title must be placed on a new foundation for the future.
For the dismissed employees, flanking measures will be applied that go beyond the legal requirements, according to the statement. The editorial team will consist of 23 people in the future. Freelancers from French-speaking Switzerland are also to be included.
The magazine celebrates its 100th anniversary next year. (SDA)