Germany's Spiegel to cut 150 jobs, charge for some online content

German news media company Spiegel said Tuesday it would cut 150 jobs and start charging fees for some of its online content.

The Hamburg-based publisher of news weekly Der Spiegel and website Spiegel Online said it aims for savings of 16 million euros ($17 million) by late 2017.

In coming weeks it said it would publish its first fee-based articles on Spiegel Online, to be followed by paid-subscription based daily news digests and Spiegel International service in mid-2016.

"It (Other OTC: ITGL - news) is important for the future of quality journalism that well researched and outstandingly written articles are not only printed but also sold digitally and not just given away," said editor in chief Klaus Brinkbaeumer.

Spiegel has this year launched a literature supplement and digital news service bento.

It said it also plans to launch an upgraded news app, trial a regional supplement in its news magazine starting with North Rhine-Westphalia state, and boost joint projects between its print, online, documentation and TV divisions.

"Our goal is to strengthen the Spiegel Group as the home of investigative political journalism and at the same time turn it into an innovative multimedia company," said CEO Thomas Hass, announcing the company's Agenda 2018 programme.

Restructuring measures would eliminate some 150 of Spiegel's 727 jobs, the publisher said.

"These are hard and painful cuts", said Hass, but he added that they are needed "if we are to secure the economic future of our company".