Torstar is eliminating 85 positions and cutting its operating budget in response to a drop in advertising revenue due to the COVID-19 pandemic. That advertising drop has come at a time when readership of Thestar.com and other Torstar websites has been rising dramatically, partly because of demand for COVID-related news, Boynton said. Seventeen of the job cuts had already been planned because of a centralization of Torstar’s advertising departments, Boynton said. No jobs are being cut in the Toronto Star’s editorial department, but there will be cuts in other Torstar-owned newsrooms. The Torstar board and executive leadership team will be taking a 20 per cent pay cut, and the company is putting a hold on the bonus program.

Source: thestar April 06, 2020 20:08 UTC