The Globe and Mail offers voluntary buyouts in effort to ‘right size’ business
Publisher and chief executive Philip Crawley said the newspaper expects to know how many volunteers will take the severance packages by early October.
By The Canadian Press
The Globe and Mail has offered voluntary buyouts to 40 of its approximately 650 staff in a bid to “right-size” its business.
Publisher and chief executive Philip Crawley said the newspaper expects to know how many volunteers will take the severance packages by early October.
Here's Phillip Crawley's memo to Globe and Mail staff on the newspaper's plan to reduce staff by 40. pic.twitter.com/xskw9FBrvb
— Sean Craig (@sdbcraig) September 8, 2016
Crawley said the reason for doing this is to “right-size the business as it adjusts to market forces.”
He said the offer is open to all managers and staff, union and non-union, and that those leaving voluntarily or involuntarily will be gone by the end of November.
Paul Morse, president of the union that represents media workers at The Globe and Mail and other organizations, said it would have more to say about the announcement after examining the newspaper’s decision.
The last time The Globe and Mail offered a voluntary buyout was in 2013, when 60 staff chose to leave.
This story is republished with the permission of The Canadian Press.
