Buyouts Offered at ?National Post? in Latest Cost-Cutting Effort by New Owners Postmedia Network

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By: E&P Staff

Employees of the National Post have this week to decide whether to accept voluntary buyouts that are offering as much as three weeks of pay for each year of service to a maximum of $125,000.

The buyout offer was the latest initiative to cut labor costs by Postmedia Network, which bought the former Canwest newspapers in a bankruptcy auction.

The Canadian Press reported Postmedia has made buyout offers to employees of the Ottawa Citizen, the Victoria Times Colonist and its Vancouver dailies. CP also reported there were about 50 people laid off at the Edmonton Journal and Calgary Herald.

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