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.
