Postmedia Network announced it will be cutting 11% of its editorial staff to respond to financial problems — despite receiving massive government bailout cash..“All properties will be affected by layoffs or restructuring,” said Postmedia Acting Senior Vice-President Gerry Nott at a Tuesday town hall. .Postmedia, which owns publications such as the Calgary Sun and Herald, the Edmonton Sun and Journal and the Vancouver Sun and Province, has roughly 650 staffers — with an 11% chop meaning about 70 people will lose their jobs..J-Source said staff were told the news should not be made public. .“Staff were asked not to leak information from today’s Postmedia town hall, where cross-company cuts are being announced,” said J-Source. .Toronto Star columnist Bruce Arthur said he would be “thinking of my colleagues at Postmedia today.”.“I spent 14 years there, was laid off once at the very start, and have seen this same pattern, over and over,” said Arthur. .“It's self-evisceration, and it's terrible.”.Globe and Mail journalist Andrea Woo called the layoffs “brutul.” .“Thinking of our friends and colleagues at Postmedia today,” said Woo. .Postmedia said last Wednesday it was shuttering the doors of 12 of its Alberta community print newspapers and moving them to digital-only platforms effective February 27. .READ MORE: Postmedia closes a dozen Alberta print editions, sells Herald building.It announced the Calgary Herald building was sold for $17.3 million to U-Haul. .Postmedia posted a net loss in the last quarter of $15.9 million, compared to $4.4 million in the same period the prior year..It was revealed in 2021 Postmedia received $10.8 million from the media bailout, $40.3 million from the Canada Emergency Wage Subsidy, and $1 million from the Quebec government’s media subsidy program. .Despite all of the funding, Postmedia shut down 15 community newspapers, scrapped 70 jobs, and reduced salaries of employees making more than $60,000 per year in 2020. .Postmedia recorded a $52.8 million net profit in 2021.
Postmedia Network announced it will be cutting 11% of its editorial staff to respond to financial problems — despite receiving massive government bailout cash..“All properties will be affected by layoffs or restructuring,” said Postmedia Acting Senior Vice-President Gerry Nott at a Tuesday town hall. .Postmedia, which owns publications such as the Calgary Sun and Herald, the Edmonton Sun and Journal and the Vancouver Sun and Province, has roughly 650 staffers — with an 11% chop meaning about 70 people will lose their jobs..J-Source said staff were told the news should not be made public. .“Staff were asked not to leak information from today’s Postmedia town hall, where cross-company cuts are being announced,” said J-Source. .Toronto Star columnist Bruce Arthur said he would be “thinking of my colleagues at Postmedia today.”.“I spent 14 years there, was laid off once at the very start, and have seen this same pattern, over and over,” said Arthur. .“It's self-evisceration, and it's terrible.”.Globe and Mail journalist Andrea Woo called the layoffs “brutul.” .“Thinking of our friends and colleagues at Postmedia today,” said Woo. .Postmedia said last Wednesday it was shuttering the doors of 12 of its Alberta community print newspapers and moving them to digital-only platforms effective February 27. .READ MORE: Postmedia closes a dozen Alberta print editions, sells Herald building.It announced the Calgary Herald building was sold for $17.3 million to U-Haul. .Postmedia posted a net loss in the last quarter of $15.9 million, compared to $4.4 million in the same period the prior year..It was revealed in 2021 Postmedia received $10.8 million from the media bailout, $40.3 million from the Canada Emergency Wage Subsidy, and $1 million from the Quebec government’s media subsidy program. .Despite all of the funding, Postmedia shut down 15 community newspapers, scrapped 70 jobs, and reduced salaries of employees making more than $60,000 per year in 2020. .Postmedia recorded a $52.8 million net profit in 2021.
