La Presse to cut 37 jobs as advertising revenue drops
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.