The Globe and Mail is planning to cut its staff by about ten per cent, which amounts to approximately 80 or 90 jobs.
Globe publisher Phillip Crawley sent an email to staff Friday, Jan. 9 announcing voluntary severance packages and then held a Town Hall meeting to answer staff questions. At this time, he told employees that if voluntary buyouts don’t reach the ten per cent target layoffs will be necessary.
Crawley said the company is expecting a $40-million drop in advertising revenue this fiscal year. He said “the pace and the severity of the decline is like nothing we’ve seen in recent years.”