Eesti Päevaleht writes that Postimees daily, for instance, has laid off nine employees including four journalists.
“These are tough times and every company is thinking how to survive,” said Kopli.
Also Äripäev is reducing workforce and could lay off up to 20 people. Äripäev’s CEO Igor Rõtov said that by 2009 the company could lay off between 10 and 15 percent of its employees because of the slump in advertising sales.
“While everything was very good during the summer months, the autumn has shown that our advertising revenues are down 20 percent,” said Rõtov.
He added that the change from lack of work to growth of unemployment has been very rapid. “Last year many companies were actively hiring new employees, but now this has stopped.”
Media analyst Toomas Leito believes that this is only the beginning and is expecting more layoffs.
Leito said that his calculations show that advertising revenues have fallen between 7 and 10 percent year on year, especially in paper. “The situation of online news companies is clearly better than the situation of newspapers that are published on paper.”
Eesti Päevaleht said there will be no layoffs.
“In Eesti Päevaleht people won’t be laid off. As one newspaper we can be sure we don’t receive such orders from Norway or Sweden,” said Lea Larin, editor in chief in Eesti Päevaleht.
Editorial board in Eesti Päevaleht is still somewhat smaller than a year ago.
“We haven’t filled all vacancies, which is reasonable in hard times,” said Larin.