Talentum Oyj - Company Announcement

TALENTUM INITIATES CO-OPERATION NEGOTIATIONS ON LAY-OFFS

TALENTUM OYJ	STOCK EXCHANGE RELEASE MARCH 12, 2009 AT 2.45 PM

TALENTUM INITIATES CO-OPERATION NEGOTIATIONS ON LAY-OFFS 

The general weakening of the economic situation has had a negative impact on
Talentum business. Particularly advertising and recruitment advertising have
seen a significant decline in both Finland and Sweden. In Finland media
advertising decreased 16.7% in January and specifically in periodicals 13.7%
(TNS Media Intelligence). 

Talentum is initiating companywide Finnish Publishing and Group administration
co-operation negotiations, whose aim is to reach an agreement on a two-week
lay-off (average) for every employee. The lay-off will be implemented in
various units in either a single time period or in the form of shortened work
weeks, mainly in conjunction with summer holidays. The monthly salary for
executives will be reduced to a sum commensurate with two-week pay without
lay-off. Talentum Sweden is also entering negotiations with personnel in Sweden
concerning similar arrangements. 

The lay-offs are slated for implementation primarily in April-August.

The Group aims to achieve with these measures approximately EUR 1 million in
cost savings, in addition to the EUR 2 million in cost savings expected from
the operational efficiency improvement measures announced previously. 

The lay-offs will not affect the publication of magazines and books, Internet
services or training; Talentum will continue to serve its readers and customers
with high-quality publications and services. 


TALENTUM OYJ

Juha Blomster
CEO


Further information:
CEO Juha Blomster, telephone +358 20 442 4444
CFO Kaisa Kokkonen, telephone +358 40 342 4212


Distribution:
NASDAQ OMX Helsinki
Primary media