The company says staff have until Nov. 8 to apply for the buyouts. The cuts will come from all levels and operations in the company.
Postmedia announced the cost-cutting measure as it reported a fourth-quarter loss of $99.4-million or 35 cents per diluted share. That compared with a loss of $54.1-million or 19 cents per diluted share for the same period a year ago. Revenue for the quarter ended Aug. 21 totalled $198.7-million, down from $230.2-million.