Back in 2014 when Postmedia Network acquired Sun Media we knew that it was only a matter of time before big changes will effect the national news outlet. Today, Postmedia announced they will be merging newsrooms from numerous newspapers in not just one but four cities across Canada. The cities impacted will be Calgary, Edmonton, Ottawa and Vancouver.
“We will continue to operate separate brands in each of these markets,” Postmedia CEO and President Paul Godfrey said in a memo to staff Tuesday afternoon. “What is changing is how we produce these products.”`
So far we at least 90 editorial jobs have been eliminated as a result of the shift, 25 in Calgary, 35 in Edmonton, 12 in Ottawa, and 5 at the National Post. Postmedia says the move was done to help consolidate expenses. According to its latest quarterly earnings report, Postmedia has almost $700 million in debt on its record. The company says it plans to cut costs by $80 million this year, up from a forecast of $50 million last quarter.