Get even more from PR In Canada
Want to learn more? View Individual & Corporate Membership options
At the beginning of March, Torstar [TCO] had launched their Torstar Local, a digital-only news and information product that combines local news with contributions from community groups. While this was the right decision by the publisher it came at a time when forces were just too great – COVID-19. The global coronavirus pandemic has had such a significant impact that advertising dollars where marketers are cutting budgets, publishers of all sizes are losing revenue opportunities. This week John Boynton, CEO of Torstar during an online all-staff town hall meeting shared with staff that Torstar has seen a significant drop in its advertising revenue. As a result the company is eliminating 85 roles with Torstar as it looks to cut its operating budget due to the COVID-19 pandemic.
