Media Giant Quebecor Cuts 220 Staff, 8% Workforce

MONTREAL,, (APP - UrduPoint / Pakistan Point News - 02nd Nov, 2016 ) - Canadian media giant Quebecor announced Wednesday it is cutting 220 jobs, or eight percent of its workforce, including at its flagship TVA television network.

"In Quebec as elsewhere in the world, our industry is facing ongoing disruption," said chief executive Julie Tremblay, adding that the company, which began restructuring two years ago, must "further adjust structural costs and become more agile.

" The slashed positions are mainly managers, professionals and administrative support staff, the company said.

At TVA Group, 125 positions will be abolished. This is not expected to impact news coverage, Tremblay said. Two local Quebec magazines -- Chez Soi and Tellment bon -- will also no longer be published. TVA last Friday announced a third-quarter loss of Can$32.5 million.