Gesca, the company that owns La Presse, Cyberpresse and Le Soleil, told its employees this week it was seeking volunteers who want to take early retirement with a buyout.
Le Soleil is apparently looking to eliminate 20-35 positions through buyouts of three weeks’ pay per year of service, up to 52 weeks.
La Presse management has called a meeting of employees for Monday, at which point they’ll explain what’s going on at the flagship paper. Management hasn’t quashed a rumour that the paper will cease publishing on Sundays.
Gesca had been one of the few major media companies to avoid large job cuts over the past two years. But it’s clear with a plummeting advertising market that nobody is safe.