A report that the Edmonton Journal is losing five newsroom staffers reveals owners may change, but the story remains the same. Despite a promise of no job cuts, Postmedia opened with a round of layoffs last September. It doesn’t seem to have helped the bottom line, though. In March the company raised eyebrows when it entered the stock market without an IPO, and then posted a $12.3 million net loss in April. The company continues to bet on its digital-first shift, but with one in 10 employees now gone, one wonders who will provide the content.
Visit J-Source’s Business of Journalism section to keep up with ownership news.
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