CP cuts 25 jobs

To those who might think that wire services, whose content is replacing a lot of laid-off journalists, might be immune to the crisis affecting the news industry, Canadian Press is cutting its staff by 25, or 8%. Though the cooperative doesn’t have to worry about servicing a large debt or reversing the advertising decline, it does have to worry about the decreasing membership dues. Quebecor is the latest mega-publisher to pull out of CP, following Canwest two years ago. Though large newspapers don’t represent as much of CP’s income as they used to, Quebecor is still a huge player and the red balance sheet means they have to reduce staff.

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