Tuesday, February 13, 2018

Torstar cuts jobs, internship programs; board chair says the company is fighting for survival

The Globe's Susan Krashinsky Robertson writes:
"John Honderich won't mince words: Torstar Corp. is fighting for survival.
"The chair of Torstar's board, and a member of one of the five families that control the company that owns the Toronto Star, The Hamilton Spectator, and a collection of community newspapers, sat down with The Globe and Mail last week to discuss the state of the news industry.
"Mr. Honderich was part of an industry-wide effort to encourage Heritage Minister Mélanie Joly to include funding for journalism in her vision for the future of Canadian cultural policy. Ms. Joly rejected many of the suggested measures, saying the government would not 'bail out industry models that are no longer viable.'"
"The struggles precipitated by declining print advertising, and by a booming digital economy that has been dominated largely by Facebook and Google – at the expense of others who would survive on digital advertising – have led to widespread job cuts. On Monday, the company tightened its belt one more notch, cutting 13 jobs in its digital and sales operations, slashing the Toronto Star's travel and freelance budgets and suspending its summer and year-long internship programs. The Star's internships were among the most prestigious in the country for training young journalists."
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