Postmedia lays off staff, including top editors at Edmonton Journal

TORONTO -- The union representing workers at Postmedia says the media company has dismissed 90 staff and merged several newsrooms as part of a round of layoffs announced Tuesday.

See Full Article

Postmedia owns two newspapers in each of the cities of Ottawa, Calgary, Edmonton and Vancouver.

The Canadian branch of the Communications Workers of America posted a memo from Postmedia CEO Paul Godfrey that says effective immediately, each of those cities will have one newsroom for its two newspapers.

Stephanie Coombs announced on Twitter her departure as managing editor of the Edmonton Journal and said that editor-in-chief Margo Goodhand was also leaving as a result of the cuts.

National Post sports reporters David Alter and Eric Koreen, as well as the sports department's web producer Kaitlyn McGrath, tweeted that they were also affected by the cutbacks.

The cuts come less than a week after Postmedia announced it was stepping up its efforts to cut costs amid continued losses in advertising, print circulation and digital media revenue.

The company, which owns the National Post, the Toronto Sun and other major Canadian newspapers, is now aiming for cost reductions of $80 million by mid-2017 -- up from its previous goal of $50 million in cuts by the end of 2017.

Postmedia said it was on track to meet the $50-million target by this May 31, the end of its fiscal third quarter.



Advertisements

Latest Economic News

  • Alberta chooses three companies to build four wind power projects in auction

    Economic CTV News
    CALGARY -- The Alberta government says it received such attractive bids in an auction to pick renewable energy projects that it exceeded its goal of 400 megawatts and will instead support 600 megawatts of new generation. Source
  • As Canadians turn to electric cars, charging stations will boom: AddEnergie CEO

    Economic CTV News
    MONTREAL -- Canadians will purchase a record number of electric vehicles this year as the growing sales of cars with longer ranges is prompting a push to increase the number of fast chargers, the head of the country's largest charging network says. Source
  • Fed rate increase is 3rd this year; foresees 3 more in 2018

    Economic CTV News
    WASHINGTON -- The Federal Reserve is raising its key interest rate for the third time this year and foresees three additional hikes in 2018, a vote of confidence that the U.S. economy remains on solid footing 8 1/2 years after the end of the Great Recession. Source
  • Federal Reserve rate increase is third this year; foresees 3 more in 2018

    Economic CTV News
    WASHINGTON -- The Federal Reserve is raising its key interest rate for the third time this year and foresees three additional hikes in 2018, a vote of confidence that the U.S. economy remains on solid footing 8 1/2 years after the end of the Great Recession. Source
  • Canadian wireless prices still high by most standards but ISED sees positives

    Economic CTV News
    TORONTO -- Prices for some types of Canadian wireless service plans have fallen but overall they remain high compared with other countries, according to a report commissioned by the federal government. It says the biggest declines are with low-use mobile plans, which the Department of Innovation, Science and Economic Development said in a statement were cheaper in Canada than in the United States for the first time since 2013. Source
  • Bitcoin and blockchain start-ups cashing in on cryptocurrency frenzy

    Economic CTV News
    CALGARY -- The investor frenzy driving bitcoin prices to precipitous heights is playing out on stock markets as well, as companies shift focus to cryptocurrencies to get in on the latest boom. "People are trying to surf off the wave of bitcoin by strategically changing their name," said Jean-Philippe Vergne, co-director of the Scotiabank Digital Banking Lab at Western University. Source
  • Bernie Sanders, others on political left push Trump to maintain NAFTA hard line

    Economic CTV News
    WASHINGTON - Donald Trump is being told to stay strong on trade by people who aren't normally his allies. Bernie Sanders and other members of the anti-NAFTA left are holding a news conference on Capitol Hill this morning. Source
  • Uber: No evidence hackers took rider credit card numbers

    Economic CTV News
    DETROIT -- Uber says an outside cyber security firm hired after a massive data breach has found no evidence that rider credit card, bank account or Social Security numbers were downloaded by hackers. The company also says in a response to demands for information from U.S. Source
  • Fed raises interest rates, keeps policy outlook unchanged for 2018

    Economic CBC News
    The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. Source
  • Housing market expected to slow next year, but prices still forecast to rise

    Economic CTV News
    TORONTO -- New stricter mortgage rules are expected to slow the housing market next year, but prices are still expected to rise about five per cent, according to a report by Royal LePage. In its market survey forecast, the real estate firm says its house price composite, which measures prices in 53 Canadian cities, is expected to increase 4.9 per cent next year to $661,919. Source