Date: January 23, 2009
To: All Canwest Publishing
From: Dennis Skulsky and Doug Lamb
Subject: Cost Control
As you know, our business is facing unprecedented pressure due to both the global economic downturn and challenges to our traditional publishing business. The recent voluntary buyout program and cost saving initiatives we have implemented are proving to not be enough to offset advertising revenue shortfalls. We are faced with significant advertising declines across the board but in particular in our employment, real estate and auto advertising categories. As a result, across our organization, teams are taking a hard look at how to affect the one lever we have absolute control over, our costs.
Following are a few initiatives underway and additional tactics that will contribute to our cost savings objectives:
Head over to the Tyee to read the rest.
