It's great when a news company blurts out doublespeak like its reciting dialogue from 1984.
TORONTO - Torstar Corp. (TSX:TS.B) is cutting 160 jobs, including the entire Internet production staff at its flagship Toronto Star daily, in a restructuring prompted by continuing weakness in the newspaper industry.
The publisher said Thursday the restructuring involves "a combination of voluntary and involuntary staff reductions" and that the company will take a $21-million charge as part of the process, but expects to save $12 million annually in labour costs.
Most of the job cuts, taken through severage packages, were already expected, but the Internet layoffs came as a surprise, said Maureen Dawson, an official with the Communications, Energy and Paperworkers Union of Canada.
"Their message to the world is that they're all dedicated to the Internet, but then they lay off the whole department," she told The Canadian Press shortly after meeting with Torstar respresentatives.
And with this news, The Star loses its place on my Seal of Approval to the left.