Yellow Pages cut 18 percent of employees, around 500 jobs

The Canadian Press

Posted Tuesday, January 16, 2018 at 7:43 a.m. EST

Last updated Tuesday, January 16, 2018 at 8:29 a.m. EST

MONTREAL – Pages Jaunes Ltée announced on Tuesday a plan to cut approximately 500 jobs in order to reduce expenses and improve results.

The company (TSX: Y) said job losses would account for nearly 18 percent of its employees.

“Decisions that have a big impact on our employees are difficult but absolutely essential to ensure the short-term health of the business as we build a great business that offers great opportunities in the future,” said the director. General of the Yellow Pages, David Eckert, in a statement.

“Today’s actions are one element resulting from a comprehensive review of our operating and capital expenditures, aimed at creating a solid financial base for stability and growth.”

The cuts will be made across the country and in all areas of the business.

Yellow Pages said it expects to take a restructuring charge of $ 17 million related to the decision.

In addition to the printed Yellow Pages directories, the business is a digital media and marketing company.

Its online properties include YP.ca, RedFlagDeals.com, Canada411.ca, 411.ca, Bookenda.com, DuProprio.com, ComFree.com and PJ NextHome.


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Calvin W. Soper

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