New York—Media conglomerate VNU Group on Monday released details of a massive reorganization plan that includes cutting 4,000 jobs, or roughly 10% of the company’s work force, in 2007.
VNU, acquired by a consortium of private-equity firms last summer for $11 billion, said most of the job cuts will come from “non-client facing activities.” The company said its aim is to present “one face” to its clients worldwide.
VNU also plans to launch A2/M2, a growth initiative focused on digital media and personal video devices. Another new service, NielsenConnect, which will combine VNU’s consumer, retail and media information, will be headed by veteran ad executive Jon Mandel, who joined VNU earlier this month.
Susan D. Whiting, president-CEO of Nielsen Media Research, has been promoted to exec VP of VNU and has also been named chairman of Nielsen Media Research.
VNU also confirmed Monday that it has sold its European trade titles to private-equity firm 3i. Financial terms were not disclosed, but reports pegged the price at roughly $417 million (U.S.).