Major Quebec media companies cut costs as coronavirus impacts advertising

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The big cost-cutting measures are necessary to deal with the economic fallout, companies say

This translation has been automatically generated and has not been verified for accuracy.Two major Quebec media companies are announcing big cost-cutting measures that they say are necessary to deal with the economic fallout from the COVID-19 pandemic.

Meanwhile Montreal’s La Presse said today it would implement a 10 per cent salary cut for its unionized employees and its managers until 2021. The not-for-profit news company says it won’t be eliminating any positions.Thursday’s bad news follows a reorganization announced earlier this week of a co-operative that operates six daily newspapers in the province. The co-operative, known as CN2i, said it would suspend the publishing of its printed editions, and it temporarily laid off 143 people.

 

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