Yesterday, Postmedia Network Canada announced it will lay off 11 per cent of its 650 editorial employees due to its rising costs and declining advertising and circulation revenue. Editorial Senior Vice-President Gerry Nott made the announcement to employees,  adding “There isn’t a property in our network that won’t be affected by a restructuring, reorganization or a layoff,” and “This is about aligning our cost structure with our revenue stream against ongoing decline in our industry and strong economic headwinds”

Postmedia Network Canada Corp. posted a net loss of $15.9 million in the quarter ending Nov. 30, 2022, compared to $4.4 million in the same period the prior year. Last week, the publisher had announced that 12 of its community papers in Alberta would move to digital-only and that print operations elsewhere would be outsourced as it struggles to shift away from print to digital publications.