In January, Postmedia cut 90 jobs and merged newsrooms in four cities, but maintained separate papers in each location. ( Justin Tang / THE CANADIAN PRESS file photo )Postmedia Network Canada Corp., which just completed a debt restructuring transaction, wants to cut its salary expenses by 20 per cent through voluntary buyouts, though layoffs are possible if the target isn’t met. For the year ending Aug. 31, the company reported a net loss of $352.5 million, compared with $263.4 million in the prior year. Postmedia did not name the number of staff it would like to cut through buyouts, only that it wants to cut labour costs by about 20 per cent. Chunky numbers: Postmedia’s fourth-quarter net loss: $99.4 million Revenues for quarter: $198.7 million, down 13.7 per cent Salary expenses target reduction: 20 per cent Debtload reduction: $307 million Cut in annual interest expense: $50 million.

Source: thestar October 20, 2016 17:17 UTC