OTTAWA – CWA Canada is urging Postmedia to follow the example of legendary billionaire investor Warren Buffett and invest in quality journalism rather than slash yet more jobs.
Postmedia revealed today that it is cutting dozens of editorial jobs at some of its newspapers as part of broader plan to improve its financial outlook. The company continues to struggle with declining print advertising revenue and a heavy debt load.
CWA Canada, the union that represents journalists at Postmedia newspapers the Ottawa Citizen, Montreal Gazette and Regina Leader Post, maintains that cutting jobs is the wrong strategy and will only make things worse in the long run.
“We understand that Postmedia is facing financial challenges, but we believe the company can only turn things around by investing in its product rather than by cutting jobs,” CWA Canada Director Martin O’Hanlon said. “If we’ve learned anything over the last few years, it’s that cutting jobs only hurts quality, and that does nothing to attract readers or generate revenue.”O’Hanlon said Postmedia should borrow a page from Buffett who is busy buying newspapers and committing to quality journalism.
O’Hanlon also emphasized that the cuts carry a big personal and community toll. Dozens of fine journalists will soon be out of work, hurting them, their families and the communities in which they live and contribute.
CWA Canada is the country’s only media-specific union, representing nearly 7,000 workers at companies such as the CBC, The Canadian Press, Reuters, and newspapers coast to coast.
For more information, contact:
Martin O’Hanlon
Director, CWA Canada
(613) 820-8460