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Postmedia announces layoffs, will move 12 Alberta newspapers online
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Postmedia Network Canada Corp.'s changes come a week after the company posted a deep quarterly loss.Chris Young/The Canadian Press
Postmedia Network Canada Corp. PNC-A-T will move 12 Alberta community newspapers to a digital-only format and lay off employees in the months ahead, according to an internal memo sent on Wednesday.
“This is absolutely not a reflection on the hard work and contributions they have made to our company but rather an outcome of economic contraction that has affected so many companies globally and the inherent challenges of our industry,” wrote Postmedia president and chief executive Andrew MacLeod.
In a townhall Wednesday, Mr. MacLeod said the areas affected will include editorial, sales, production and distribution. He told employees that inflation and revenue declines have combined to create a “perfect storm” for the company, which owns more than 120 media properties, including the National Post, Vancouver Sun and Montreal Gazette.
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“To be blunt, without using a lot of fancy words, we need to get our costs down,” he said, according to a recording obtained by Tausi Insider. “We need to have our costs be more in balance with the revenue environment that we find ourselves in.”
A spokesperson for the company said the publications moving to digital-only starting Feb. 27 include Fort McMurray Today, the Cold Lake Sun and the Cochrane Times.
In his memo, Mr. MacLeod positioned the changes as necessary to building a “sustainable media organization” while “managing cost and mitigating revenue decline.”
Postmedia will also look to outsource printing operations “where it makes sense,” and has struck an agreement with Glacier Media to move all of its printing for Saskatchewan to Estevan Printing. As a result, the company will sell its building in Saskatoon.
Separately, Postmedia said Wednesday it has sold the Calgary Herald building to U-Haul Co. for $17.25-million.
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The changes come a week after the company posted a deep quarterly loss. Postmedia lost $15.9-million in its most recent quarter compared with $4.4-million in the same period the year before. Revenue from advertising and circulation fell 5.9 per cent and 5.4 per cent respectively, though overall revenue increased in part owing to the company’s parcel-delivery business.
Newspapers have been grappling for years with a decline in print advertising and circulation revenue while trying to compensate by growing digital ad revenue and subscriptions. As a result of the tough conditions, Postmedia has shuttered titles, implemented layoffs and offered voluntary buyouts over the past few years. In 2022, the company also purchased Brunswick News, which publishes daily and weekly titles, including the Telegraph-Journal in Saint John.
Other changes announced Wednesday include subleasing a building in Regina and moving all Saskatchewan-based employees to permanent remote work.
“We know that this amount of change is unsettling but we must continue to focus on our strategy and delivering for our audiences, clients and partners,” Mr. MacLeod wrote.
The financial challenges in the industry have strained other media outlets recently, too. The former joint owners of Torstar Corp., which publishes the Toronto Star, fell out last year in part because of disagreements over cost-cutting. Torstar held talks with Postmedia about combining the two companies, but no deal was completed, The Globe has reported.
I recently watched “ the greatest film of all time ,” and the most boring one. In retrospect, the title alone should have been a sufficient warning: Jeanne Dielman, 23 Quai du Commerce, 1080 Bruxelles . Alas, I’m old enough to be a bit nostalgic about massive telephone address books. And massive it is. Clocking over 200 minutes, Chantal Akerman's 1975 dreary drama follows three days in the monotonous routine of Jeanne, a widow, a mother, and a prostitute. I watched Jeanne’s autopilot existence, until, staring at her back as she washes dishes, I decided to fast-forward a couple of minutes, only to discover she was still at it. And Jeanne is equally thorough when she’s busy baking, cleaning, folding laundry, or shining her son’s shoes. She speaks so scarcely and mechanically, that it’s impossible to detect any emotion or volition beyond her carefully controlled chores . Watching Jeanne Dielman is what the word “painstaking” was invented for. Chantal...
Stored procedures: like functions for your SQL. A stored procedure is a batch of SQL statements created and stored on a database. You can reuse a stored procedure over and over again. A stored procedure can accept parameters, run a query, and return results. Many users can call a stored procedure and different applications can call it with different parameter values. What Are the Benefits of Using Stored Procedures? Apart from allowing multiple users and applications to reuse it, a stored procedure has other benefits. It is easy to modify. You can change a stored procedure when necessary and these updates will be reflected for all users. Furthermore, you don’t need to redeploy your application when you modify the stored procedure. It reduces network traffic because the server only passes the procedure’s name over the network and not the entire query. It improves database security since users don’t have direct access to tables. To make...
Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...
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