Tuesday, December 16, 2008

Péladeau swings ax at Sun Media

It didn't take long for Pierre-Karl Péladeau to assert himself at Sun Media.

Six weeks after personally taking the helm of the newspaper and TV chain,the Quebecor president announced 600 people will be laid off, nearly all of them before Christmas.

The company said in a statement that the cuts represent 10 per cent of Sun Media's workforce and will result in restructuring costs of $14 million.

Sun Media publishes 43 paid and free newspapers in Quebec, Ontario and Western Canada, as well as 200 community papers and specialty publications such as shopping guides.

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