Canada's Postmedia Network announces new round of staff cuts
Summary: Postmedia Network is a Canadian newspaper publisher who have anounced that they are seeking to reduce the salary cost of their words by 20% through voluntary redundancies - if their target sit met then mandatory redundancy will happen. In January, they cut job 90 jobs and merged newsrooms in four cities. Over the full 12 months, the company have said they have made a huge loss - £217.4m and in the previous year they lost £162.4m. The chief executive said; "We must accelerate the transformation of our business operations to align our cost structure with our revenue outlook”.
[] It seeks 20% salary reduction after reporting £61.3m loss for the fourth quarter
[]Postmedia’s digital revenue rose by 0.8%.
[] The fourth-quarter loss totalled £61.3m compared with a loss of £33.3m in the same period a year ago
My opinion: More newspaper are declining each and every day, not just locally but globally too as seen in this article. New and digital has slowly taken over traditional news and they are being effected by it but so are peoples jobs.
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