| TORONTO, Sept 8
TORONTO, Sept 8 Canadian newspaper publisher the
Globe and Mail offered voluntary buyouts to all staff on
Thursday in an effort to 'right-size' the business, publisher
Philip Crawley said.
The newspaper, which has about 650 staff, is looking for
about 40 people to volunteer for the buyout, Crawley said in an
email sent to employees and seen by Reuters.
In 2013, when the paper last offered buyouts, more than 60
employees accepted the offer, he said.
Newspapers are under increasing pressure to cut costs to
offset sharp declines in print advertising sales.
The package is open to union and non-unionized staff and
management, with enhanced severance for employees with more than
30 year of service, Crawley said.
"I made it clear today that this is about right-sizing the
business. It would have happened now, with or without a new
building," Crawley said in an email, referencing the newspaper's
planned move to a new office building in downtown Toronto later
In the email, the company said that under a three-year plan
it had reduced its expense run rate by C$25 million ($19.34
million) through cost-cutting measures including a new print
plant contract and reduced marketing budget.
The Globe hopes to reduce its staff by mid-November, the
The Globe is majority-owned by Canada's Thomson family,
which is also a majority owner of Reuters' parent company,
Thomson Reuters Corp.
($1 = 1.2924 Canadian dollars)
(Reporting by Susan Taylor; Editing by James Dalgleish)