June 1, 2016 5:09 pm | Updated 4 years ago.
Postmedia Network Inc, a premier Canadian News Media Company is envisaging on closing its printing plant and outsourcing its core printing process. This cost cutting strategy of the company will also witness about 139 employees losing their jobs. Postmedia Network Canada Corp has entered into an alliance with Metroland Media Group Ltd to print the London Free Press from Hamilton where the Hamilton Spectator is also published by Metroland.
According to Phyllise Gelfand from Postmedia, mentions that this outsourcing is in line with the transformation programs followed in Regina, Edmonton, Calgary and Vancouver. Due to a decline in revenue because of a fall in print advertising Postmedia has been aggressively cutting cost.The cost cutting strategy of the company involved closing down of the London Plant. This move was severely criticized by the worker’s union. This reflects a general trend where printing is usually outsourced as many publications have suffered because of a fall in revenue.
Date of Publication: May 31, 2016