Sun Media makes more big cuts

Sun Media, which owns the Toronto Sun, is cutting 200 jobs. Of those, 50 editorial staff will be let go.

Read: Economy’s growth fastest in two years

The cuts are part of the company’s ongoing the restructuring plan, which is says is driven by the upheavel in print media caused by the internet.

The company also cut around 350 jobs and closed 11 newspapers in July, reports the Globe and Mail. It’s cut about 1,500 jobs since 2008. Its workforce is now about 4,000.

Read: Poloz says housing market not a bubble

It’s most recent quarterly financial numbers show the media company posted a 15% increase in its profit, which it attributed to its “significant cost-containment and repositioning efforts,” the Globe reports.

Sun Media is a subsidiary of Quebecor Media. In addition to 39 daily papers it has almost 200 community newspapers, shopping guides and other speciality publications.

Read: BlackBerry battles to keep corporate customers

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.