Ad hoc announcement pursuant to Art. 53 LR
TX Group adapts its Corporate and Group Services to the new company structure
Zurich, 29 June 2020 – Since 1 January 2020, the TX Group has been able to provide its four companies – TX Markets, Goldbach, 20 Minuten, Tamedia – with more entrepreneurial autonomy thanks to the new organisational structure. Consequently, the demand for Corporate and Group Services among the individual companies has become very diverse.
On 11 March, the TX Group announced that it was reviewing its Corporate, Group and Technology Services in detail, in order to adapt them optimally to the new decentralised organisational structure of the group. The Board of Directors of the TX Group has now approved a restructuring up to 2023. The objective is to increase the efficiency through standardisation and automation, to reduce material costs, and to give the four companies of the group more flexibility in selecting individual services. Furthermore, the Group Service Centre in Belgrade will be extended.
With the restructuring, the aim is to reduce the current costs of Corporate and Group Services by 20 per cent and thereby achieve savings of CHF 20 million over the next three years in order to free up the companies of the group. Besides the reduction of material costs, a cutback of around 40 jobs is planned. The objective is to achieve this largely through natural turnover, over the next three years. Unfortunately, redundancies cannot be ruled out. Should these occur, the TX Group will adopt a redundancy programme and support the employees affected in their professional reorientation.