Torstar eliminates 85 positions as coronavirus cuts

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wholesale jerseys from china Postmedia Network Inc., which owns the, is temporarily laying off some staff, imposing salary reductions for employees earning more than $60,000 and closing 15 community newspapers in Manitoba and Ontario as advertising revenues have fallen sharply during the coronavirus pandemic.regret causing anxiety for people and our employees, but we trying to be prudent in terms of navigating an uncertain future, Postmedia president and CEO Andrew MacLeod said in an interview.Generating advertising revenue is difficult for a media company while the Canadian economy is at a standstill, he said.Torstar eliminates 85 positions as coronavirus cuts into ad revenueShaw Communications to temporarily lay off about 10% of workforce because of coronavirus shutdownRogers withdraws 2020 outlook in uncertainty of coronavirus crisis, Q1 revenue slumps 5%In an email to all Postmedia employees on Tuesday, MacLeod wrote that the company, so many, has been hard hit by the freeze imposed across the Canadian economy and around the world. Print and digital advertising revenues have suffered significant declines, he said.The company is utilizing every government subsidy that has been announced so far but subsidy can offset the declines in revenues our industry is experiencing, MacLeod said.As a result, the company is permanently closing 15 community newspapers in Manitoba and around Windsor in Ontario. Shuttering those papers mean 30 jobs will be lost.products that we closed today were really on the precipice and the crisis associated with the pandemic just pushed them over the edge. wholesale jerseys from china

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