About 11 per cent of Postmedia’s roughly 650 journalists will be cut as one of the largest media companies in Canada prepares for an “extremely turbulent stretch,” the Star has learned.
During a Tuesday call with Postmedia employees, Postmedia’s Gerry Nott announced the layoffs.
Aside from Brunswick News and Postmedia Editorial Services, “there isn’t a property in our network that won’t be affected by a restructuring, reorganization or a layoff,” Nott said.
“This is about aligning our cost structure with our revenue stream against ongoing decline in our industry and strong economic headwinds,” he said.
“This will not be easy. Change is difficult.”
Postmedia Network Canada Corp. posted a net loss in the quarter ending Nov. 30, 2022, of $15.9 million, compared to $4.4 million in the same period the prior year.
Last week, it announced that 12 of its community papers in Alberta would move to digital-only and that print operations would be outsourced.
Postmedia recently stopped printing Monday editions of the Vancouver Sun, The Province, Calgary Herald, Calgary Sun, Edmonton Journal, Edmonton Sun, Ottawa Citizen, Ottawa Sun and Montreal Gazette.
The company is trying to shift to digital from print across the country. Employees were told that there are options for a “voluntary layoff” package.
Union protocols will be followed, he said, and conversations about where cuts will happen with editors will begin this week.
“We will try to get through this as quickly as possible,” he said.
“This is a difficult time for all of us. It’s vital that we find a path to sustainability through an extremely turbulent stretch.”
One Postmedia employee told the Star they felt “sick and infuriated” at the news.
“Our resources have already been decimated in the past two decades,” said the employee, who asked not to be named due to concerns of professional repercussions.
“If I don’t get laid off I will be working on my exit strategy.”
With files from Joanna Chiu
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