Nielsen owner VNU will cut its workforce by 4,000 people — nearly 10% of its staff — as part of a restructuring plan designed to cut costs by 10% in the coming year.
New structure, which includes Nielsen CEO Susan Whiting being upped to chairman of Nielsen Media Research and exec VP of VNU, puts Nielsen at the company’s core. Company will invest in Nielsen’s Anytime Anywhere Media Measurement initiative for digital; NielsenConnect; and ACNielsen Loyalty, a new service designed to aid retailers in frequent-shopper data management.
Also on Monday, the company sold VNU Business Media Europe, a Dutch careers classified and B2B magazines group, to the private equity company 3i.
The Dutch parent of the Hollywood Reporter, Adweek and Billboard, VNU was purchased recently by a group of six equity firms for $10 billion. Layoffs at VNU properties began last week with the Reporter.
— From Staff and Wire Reports