Quebecor Inc. is cutting some 500 jobs at its Sun Media newspaper division in a move that includes the closure of two production facilities in Ottawa and Kingston.
The downsizing is part of the Montreal-based media group’s efforts to reduce annual costs by $45 million.
There had been earlier reports Quebecor (TSX:QBR.B) would eliminate the position of publisher at some newspapers.
Quebecor’s president and CEO, Pierre Karl Peladeau, says the restructuring is warranted by changes in the newspaper industry.
“With the recent announcement of a major strategic redesign of Sun Media’s organizational structure, the restructuring further streamlines and optimizes the organization’s operations,” he said in a release Tuesday.
“By doing so, Sun Media Corporation is proactively leading the way to ensure long term success.”
It remains committed to its publications, which include the Toronto Sun and other dailies across Canada under the Sun and other banners, Peladeau added…
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