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TORONTO — Sources say 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."
"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."The sources asked not to be identified as they were not authorized to publicly speak on the matter or share recordings of the meeting.
"Had we not made those changes, the number of journalists affected by layoff would be considerably higher," he said. He acknowledged the moves would create a"difficult time," but said it was"vital" to find a path through this"extremely turbulent stretch."
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