CanWest cuts another 560 jobs

Facing a mountain of debt, nosediving stock prices and an economic slowdown, media giant CanWest is amputating another 560 Canadian jobs, about five per cent of its current workforce. The job eliminations – to be achieved through attrition, buyouts and layoffs – include 350 from the print side of the company and 210 from broadcast. The cuts are expected to save the company about $61 million a year. 

Company news release: “CanWest streamlines operations”