Bill Doskoch: Media, BPS*, Film, Minutiae

Curated knowledge, trenchant insights & witty bon mots

Globe and Mail looks to reduce head count by 40

The Globe and Mail announced a voluntary separation package aiming to induce 40 staffers to leave the company as it struggles with economic headwinds.

From the Financial Post (“The Globe and Mail offers voluntary severance package to employees“):

The newspaper has about 650 staff, and the packages are being offered to unionized and non-unionized employees with the hope that the downsizing will be completed by November. The Globe says a recent three-year plan to reduce expenses saved $25 million through cost-cutting measures, including the renegotiation of its print plant contract with Transcontinental Inc.

This marks the third time since 2013 that the newspaper has looked to slash its payroll significantly. 

In January 2014, The Globe announced plans to cut 18 positions, including nine editorial jobs, through buyouts and layoffs. The year before, 60 employees totalling 8 per cent of the paper’s workforce took buyouts.

According to a caption on a photo, the Globe’s circulation has gone from 290,000 in 2013 to 230,000 in 2015.

In a memo to staff, CEO Philip Crawley said layoffs could be a possibility. “The number of layoffs depend on how many staff apply for and are accepted for the VSP.”

Additional reading

Ken Doctor is perhaps the pre-eminent U.S. writer today on newspaper economics. He profiled Crawley and the Globe and Mail back in June 2015 for the Politico — Rebuilding Canada’s Globe and Mail.

Thu, September 8 2016 » Main Page, Media