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BRIEF-Postmedia Network Canada To Implement Temporary Salary cuts, Layoffs And Some Permanent Closures

Published 2020-04-29, 06:29 p/m
PNCa
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April 29 (Reuters) - Postmedia Network Canada Corp PNCa.TO :

* POSTMEDIA NETWORK CANADA CORP - TO IMPLEMENT TEMPORARY SALARY REDUCTIONS, TEMPORARY LAYOFFS AND SOME PERMANENT CLOSURES

* POSTMEDIA NETWORK CANADA CORP - TEMPORARY LAYOFFS AFFECT ABOUT 50 EMPLOYEES IN SALES AND SALES OPERATIONS TEAMS

* POSTMEDIA NETWORK CANADA CORP - CLOSURE OF 15 COMMUNITY PUBLICATIONS IN MANITOBA AND ONTARIO RESULTING IN ABOUT 30 PERMANENT LAYOFFS

* POSTMEDIA NETWORK CANADA CORP - TEMPORARY SALARY REDUCTIONS FROM 5% - 30% FOR A RANGE OF EMPLOYEES WITH SALARIES OVER $60,000

* POSTMEDIA NETWORK CANADA CORP - TEMPORARY MEASURES WILL BE RE-EVALUATED IN 3 MONTHS' TIME

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