Business · Companies · 10 hrs ago
Finnish news agency STT plans to end news and photo services
Finnish news agency STT plans to close its news and photo services after years of financial trouble.
The agency, founded in 1887, says it will stop those services on March 31, 2027.
Ongoing losses and failed efforts to find more committed owners led to the decision.
STT estimates that 89 jobs will be lost, including 68 in journalism, while 30 temporary contracts or agreements will end.
Its communications business, which distributes press releases, will continue.
The planned closure would end STT's news and photo operations, but the company has not said that this remaining business will close.
Finnish news agency STT plans to end its news and photo services on March 31, 2027.
The company cited continued losses in those businesses and unsuccessful efforts to attract a sufficiently broad group of owners committed to developing them.
STT Communication Services, which distributes press releases, will continue operating.
Current estimates indicate that 89 jobs will be lost, including 68 in journalism.
STT was founded in 1887.
- Who
- Finnish news agency STT.
- What
- It plans to end its news and photo services while keeping STT Communication Services operating.
- When
- The services are due to end on March 31, 2027.
- Where
- Finland.
- Why
- STT cited continued losses in its news and photo businesses and unsuccessful efforts to attract a sufficiently broad, committed ownership base.
This story does not have two clearly opposing sides.
STT was founded.
STT announced that it planned to restructure its business.
STT said it would end its news and photo services, citing continued losses and unsuccessful efforts to broaden its ownership.
STT’s news and photo services are due to end.
- Planned end date
- March 31, 2027
- Estimated job losses
- 89, including 68 in journalism
- Continuing business
- STT Communication Services, which distributes press releases
- Year founded
- 1887
What people are saying
a tragedy for Finnish society as a whole
According to current estimates, 89 jobs will be lost, including 68 in journalism