Canada’s largest newspaper publisher, Sun Media, announced Tuesday the closure of two production facilities in Ottawa and Kingston, Ontario, and layoffs of 500 staff.
The closures and job cuts are expected to deliver more than Can$45 million in annual cost savings, the company said.
Sun Media chief executive Karl Peladeau said in a statement the restructuring “is regrettable but warranted by changes in our industry which force us to align our cost structure with the new reality.”
He said it “streamlines and optimizes the organization’s operations.”
Several Canadian media companies have lamented a drop in advertising revenue in recent years.
Sun Media has 36 paid-circulation daily newspapers and six free dailies in nine of Canada’s 10 largest urban markets, each with its own dedicated website, as well as almost 200 community newspapers, shopping guides and specialty publications.
Sun Media cuts 500 Canadian newspaper jobs
