Tuesday, December 16, 2008

Sun papers publisher to cut 10 per cent of staff, 600 jobs across Canada

Canada's biggest newspaper publisher, Sun Media, is cutting 600 jobs in Western Canada, Ontario and Quebec as it restructures in the face of harsh economic conditions.

The chain, owned by Montreal-based media giant Quebecor Inc. (TSX:QBR.B), said Tuesday the cuts will trim about 10 per cent of its workforce and most will fall by the end of the year.

"The news industry is being revolutionized and we have to adapt if we want to remain an industry leader," CEO Pierre Karl Peladeau said in a release.

"We need to build a presence and build our brand in the digital universe and we need to do it as quickly as possible. We have to let customers get the information they want on the platform of their choice."

Peladeau said the economic environment is deteriorating quickly, which forced the publisher to make "difficult decisions" at this time of year.


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