SUN MEDIA AXES 125 JOBS
By Adnews Staff
Sun Media trimmed 125 employees from its payroll this week and is ceasing publication of its free Toronto daily FYI Toronto. The moves are part of a cost-cutting initiative the newspaper publishing company announced on Wednesday that is expected to save $10 million annually. Also, the Bowes Publishing unit will be consolidated with the business operations of Sun Media's 15 metropolitan dailies. Bowes publishes over 190 weekly and community dailies. "The duplication of operations between Bowes and Sun was unwarranted, particularly in the current economic slowdown," said Sun Media's president and chief executive officer Pierre Francoeur. Francoeur has also appointed William Dempsey chief operating officer of Sun Media. Most recently Dempsey was chief executive officer of Bowes Publishing. In May Sun Media cut 5% of its staff in May. At that time 180 full-time, 34 part-time and 15 freelance positions were eliminated and a further 73 vacant positions left unfilled. Francoeur then cited difficult conditions in the newspaper business in North America as the reason for the cutbacks.