Transcontinental cuts 1,500

The press release issued this morning is being rewritten at media outlets all over the place. Transcontinental is cutting 1,500 jobs, requiring unpaid vacations and forcing senior managers to put in unpaid work, all in an effort to cut costs.

There are 28 cuts coming to Canadian magazines, but so far no word on newspapers. Transcontinental owns Metro as well as dozens of community weeklies.

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