Postmedia to lay off 11 per cent of editorial staff: CP sources
CTV
Newspaper publisher Postmedia Network Corp. is laying off 11 per cent of its editorial staff, less than a week after workers were told the company was grappling with "economic contraction," sources tell The Canadian Press.
Newspaper publisher Postmedia Network Corp. is laying off 11 per cent of its editorial staff, less than a week after workers were told the company was grappling with "economic contraction," sources tell The Canadian Press.
Postmedia, which owns publications including the National Post, Vancouver Sun and Calgary Herald and employs about 650 journalists, announced the layoffs at a town hall Tuesday afternoon.
In an audio recording of the meeting obtained by CP, Gerry Nott, acting senior vice-president of editorial content, said the cuts would impact all of the company's publications with the exception of Brunswick News and Postmedia Editorial Services, which have already been downsized.
"There isn't a property in our network that won't be affected by a restructuring, reorganization or layoff," he said.
"And to be clear, this is about aligning our cost structure with our revenue stream against ongoing decline in our industry and strong economic headwinds leading up to this difficult decision on staff reduction."
Postmedia did not respond to a request for comment on the cuts.
The sources asked not to be identified as they were not authorized to publicly speak on the matter or share recordings of the meeting.
