Postmedia Hit With Another Round Of Layoffs, 40 Staff Cut

Postmedia Network [TCO] has gone through another round in layoffs in just a month, this time cutting 40 employees after a number of its unions would not approve a temporary salary reduction to help reduce costs amid the COVID-19 pandemic, according to a memo sent to staff.  Earlier in the month, Postmedia reported a nearly eight per cent drop in revenue for its second quarter, which ended February 29.

This week competitor TorStar announced it has been sold to a private company for $52M, maybe a similar outcome will happen with Postmedia Network.

Dave Forde

Dave “The Connector” Forde is a 20-year veteran of the Canadian marketing, PR, and tech industries. He is the founder of The Connected One network, including industry news sites Profectio and PR In Canada, and serves as a strategic business advisor. Connect with him on LinkedIn and X.

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