La Presse to cut 37 jobs as ad­ver­tis­ing rev­enue drops

The Standard (St. Catharines) - - Business -

MON­TREAL — Man­age­ment at Mon­treal’s La Presse news group in­formed union­ized em­ploy­ees Thurs­day that ef­forts to cut costs will lead to the elim­i­na­tion of 37 jobs through vol­un­tary buy­outs. The me­dia out­let has 230 jour­nal­ists in its news­room and a to­tal of 550 em­ploy­ees. La Presse, for­merly owned by a sub­sidiary of Power Cor­po­ra­tion of Canada, of­fi­cially adopted a not-for-profit struc­ture last July. At the time, Power Corp. agreed to grant $50 mil­lion to the new ven­ture.

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