Norway's Schibsted to cut 250 jobs in cost drive

Illustration shows Schibsted logo

OSLO (Reuters) - Norwegian online classified ads group Schibsted will cut around 250 jobs in the Nordic region as part of a restructuring plan to reduce costs and boost efficiency, the company said on Tuesday.

Schibsted, which recently divested its legacy news media business, operates online marketplaces for real estate, jobs, cars, travel and other services in Norway, Sweden, Denmark and Finland.

"We are now in a position to start taking decisive measures to improve our profitability as a more focused company, and to adjust to the macroeconomic environment," Schibsted Marketplaces CEO Christian Printzell Halvorsen said.

"This is not a one-off, but rather the start of a journey of continuous improvement and cost focus," he added.

(Reporting by Terje Solsvik; Editing by Eileen Soreng)