Monday, February 23, 2009

Torstar cuts 64 jobs at three southern Ontario newspapers

Three southern Ontario newspapers owned by Torstar Corp. (TSX: TS.B) are cutting a total of about 64 jobs in a streamlining caused by slumping advertising revenues.

On Monday, Torstar's Metroland Media Group announced the elimination of 64 full-time-equivalent positions at three papers, including 30 at the Hamilton Spectator, 21 at the Waterloo Region Record and 13 at the Guelph Mercury.

At the Spectator, the paper is cutting the equivalent of about 30 full-time positions, although the layoffs affect 35 people in full time, part-time and contract positions.

Record publisher Paul McCuaig says most of the jobs at his newspaper were in the editorial and advertising departments, including about 10 newsroom jobs.

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