Telegraaf parent loses €40 million; more job losses posb.

The Telegraaf Media Group, publisher of the newspaper De Telegraaf, suffered a loss of 38.09 million euros last year, compared to a profit of 177.9 million euros in 2013. The revenue also decreased from 542.2 million euros in 2013 to 514.9 million euros last year, De Telegraaf reports. According to CEO Geert Jan van der Snoek, big steps have been taking to put a stop to the continuing decline in revenues. He called further cutbacks this year "inevitable". Van der Snoek said that the decline in income shows that the company has to "pick up the pace" to adapt to consumers who increasingly use the internet. Last year the new chairman cut costs back 10 percent exchanged the management teams on virtually all business units, and scrapped 200 jobs in the media business. Van der Snoek made no comment on further possible layoffs.