ErikZ
10-18-2006, 04:16 PM
It was reported yesterday that Torstar, the parent company of the Toronto Star, Canada's largest newspaper, forced the Publisher and top Editor to resign.
While this is not good news for the industry as it is a direct result of the newspaper's failure to reach analysts expections, I think in a way it is better to see a restructing plan that starts by cutting jobs at the top rather than starting out by cutting hundreds, if not thousands of jobs at the middle or bottom of the rung. However, other Torstar properties did not follow a similar plan and one subsidiary, Harlequin Enterprises, cut 4% of its labor force recently.
While this is not good news for the industry as it is a direct result of the newspaper's failure to reach analysts expections, I think in a way it is better to see a restructing plan that starts by cutting jobs at the top rather than starting out by cutting hundreds, if not thousands of jobs at the middle or bottom of the rung. However, other Torstar properties did not follow a similar plan and one subsidiary, Harlequin Enterprises, cut 4% of its labor force recently.