The media company owns more than 130 brands and says the restructuring will affect all titles across the chain
will lay off 11 per cent of its 650 editorial employees, the company said Tuesday, as it contends with rising costs and declining advertising and circulation revenue.
The restructuring will affect all titles across the chain, except for those acquired from Brunswick News last year, Mr. Nott said.a company memo last week Other cost-saving measures announced last week include moving a dozen Alberta community newspapers to a digital-only format starting at the end of February, selling a building in Saskatoon, and subleasing offices in Regina. All employees in Saskatchewan will permanently work remotely. Separately, the company said last week it sold the Calgary Herald building for $17.25-million to U-Haul Co.
The changes are just the latest in a series of cost-cutting measures at Postmedia over the past few years amid a profound shift in reader habits and in the business model for news. Print advertising and circulation revenue have long been in decline, and newspapers are trying to adjust by growing digital ad revenue—an area dominated by Google and Facebook—and by developing new income streams.
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