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CanWest slashes 5% of work force
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by mike_yvr | November 12, 2008 at 02:32 pm
600 views | 12 Recommendations | 3 comments
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The other shoe drops...
TORONTO — CanWest Global Communications Corp. is cutting 560 jobs, or 5 per cent of its work force, as the Winnipeg-based broadcaster and publisher streamlines operations.
The company said Wednesday the cuts will reduce operating costs by $61 million a year and involve voluntary buyouts, attrition and layoffs.
The latest cuts are in addition to several hundred jobs that have been eliminated over the last two years.
CanWest said the streamlining reflects the slumping economy and competitive pressures on its conventional TV operations.
Most RecentMost Recommended Comments (3)
at 16:24 on November 12th, 2008
These layoffs reflect the corporation's inability to run a multi-media empire and not the result of "the slumping economy". How opportunistic! As for "competitive pressures...", see aforementioned "inability to run a multi-media empire". But it's all business and nothing personal, eh, CanWest? I say it's absolutely disgusting and way-bad behaviour. Shame!
at 11:38 on November 17th, 2008
Where do the rumours of a Nowpublic takeover fit into this scenario?
at 12:19 on December 2nd, 2008
Efficient strategy. All in the name of logic. If you were running a multi-billion dollar corporation, losing money in any sector that you could be saved is an improvement. It is unfortunate that jobs have been lost in that process, but such is life. Companies are an organism and only the strongest, efficient and innovative will survive.