Quebecor cuts 400 jobs: Union

The media co's Sun Media papers have made the cuts following a Q3 loss earlier this month.
Money

Quebecor Media’s Sun Media newspapers have cut about 400 jobs, according to the Southern Ontario Newsmedia Guild which represents employees at the Toronto Sun, as well as other papers owned by the media co in Ontario.

Union president Paul Morse tells MiC that about half the jobs lost were done through buy-outs, with the other 200 split between layoffs and attrition.

The job cuts follow a Q3 financial report earlier this month which saw a 69% dip in profit versus the same period in 2010, from $83 million to $26.1 million.

Representatives from Quebecor Media had not responded to requests for comment at press time.