News

OTTAWA -- Postmedia, Canada's largest newspaper chain, has begun job

reductions at newspapers already picked clean by the Asper's Canwest

ownership days.







"This is appalling. The Paul Godfrey-led, U.S. hedge fund-backed new

ownership is savaging Canada's foremost newspapers,” says Peter Murdoch,

Vice-President, Media, for the Communications, Energy and Paperworkers

Union, Canada's largest media union.



“These newspapers are profitable enterprises. The Godfrey team appears

more focused on returns to U.S. financial gamblers than building these

vital newspapers.”







CEP is looking into avenues to challenge whether or not the ownership of

Postmedia is in fact Canadian.



"We were fearful of this outcome. The debt load is high and the

investors are in another country, it was a recipe for the kind of

irresponsible cost-cutting we are witnessing today," adds Murdoch.



"The union will be there to ensure workers are at least treated with a

modicum of respect and fairness in this process. And we will be vigilant

to ensure that those remaining are not carrying stress loads that

endanger their health and journalism standards.”







For more information: Peter Murdoch, 905-516-5720