A spokesman for Canada’s largest daily newspaper publisher Torstar says the company plans to offer voluntary severance packages to its 6,600 employees.
Bob Hepburn says Torstar is in talks with its union over the details before it officially makes the offer.
The publisher of the Toronto Star, other papers and free dailies held the first of three town hall meetings today to answer questions from its staff.
Hepburn says two additional meetings are scheduled for Friday.
Last week, Torstar reported its third-quarter net profits jumped 74% to $25.2 million.
But it also warned that ad revenues are expected to take a hit from the uncertain economy.
Aside from its slate of newspapers, Torstar owns a variety of digital properties, including WagJag.com, Workopolis, and Olive Media, as well as the Harlequin book publisher and one third of the Canadian Press news agency.
