Teller Report

Now you can see non-English news...

Task: Metro employees without pay

2019-08-09T13:22:02.075Z

The crisis at Sweden's largest paper magazine continues. Employees now testify about missing salary and the current owner intends to sue the investment company Kinnevik, which sold Metro to him.


- We will demand SEK 300 million. Kinnevik has manipulated the figures and hidden the company's real financial situation, says Metros CEO Christen Ager-Hanssen, to Expressen.

However, Kinnevik has rejected the accusation and believes that the sale went right.

On Monday, Expressen also revealed that Metro employees had not received any salary.

"Takes about a week"

In a letter to the employees, which Expressen has read, Metros CEO and owner Christen Ager – Hansen writes:

"Administratively, it is expected that it will take about a week before the March salaries reach the employees' bank accounts".

Metro, which is Sweden's largest paper magazine, and among other things distributed free of charge in the Stockholm subway, is now applying for a corporate restructuring.

Must be given fewer days

During the past week, the prosecutor turned to Metro to recover the newspaper's tax liabilities. They have been able to seize SEK 2.8 million from the media company's bank accounts. The tax liability is almost 9 million.

The newspaper has also announced that it is now going to review the business model and invest in the digital side. You will cut down on paper publishing and come out fewer days a week. The number of employees must also be reduced.

However, how many of the 120 employees will be forced to leave the newspaper is unclear at present.

Source: svt

You may like

Business 2019-10-09T00:53:20.218Z
Life/Entertain 2019-08-09T13:22:02.075Z
Life/Entertain 2019-08-12T14:43:11.687Z
Life/Entertain 2019-08-09T13:07:13.493Z
Life/Entertain 2019-08-12T08:12:59.285Z
News/Politics 2019-09-12T07:32:12.389Z

Trends 24h

Life/Entertain 2019-10-22T20:48:46.546Z

Latest

© Communities 2019 - Privacy