The six daily newspapers of the Coops de l’information (CN2i) will permanently cease publishing their paper editions at the end of this year, which will result in the loss of a hundred jobs, or about a third of the workforce.
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At the end of March 2020, the daily newspapers Le Soleil, Le Droit, Le Quotidien, La Voix de l’Est, La Tribune and Le Nouvelliste had put an end to paper editions during the week and since then there have been no remaining printed matters except SATURDAY.
“We will complete the paper on December 31st, or shortly before that date. All unions have known about the plan since the launch of CN2i. They were briefed on the extent of the pay cut last year,” said Coops information head Geneviève Rossier, who finished a tour of regional newspapers on Wednesday to offer employees more details on this upcoming change.
The new wave of job cuts at the six newspapers, it is hoped, will come without layoffs.
“A voluntary departure program will be announced in June. We are currently in talks with the unions to clearly define the outlines of this program, which will be generous but will also take into account what money must remain in the company to continue activities,” said Geneviève Rossier, adding that the organization has the expertise in developing these programs as it will be the third in recent years.
Another part of the downsizing will be through turnover. A hiring freeze was imposed at the end of 2022. Certain functions that are 100% tied to the production of paper output become dispensable. Holders of affected positions, for example in model production, have access to the voluntary exit program.
“Our plan aims to ensure that all of the Group’s brands (including Les As de l’info) remain viable in their respective markets at the end of the financial year,” said Ms. Rossier.
In mid-April, CN2i launches new digital platforms on web and mobile devices, which are continuously updated. The six daily newspapers offer a limited number of free articles each month, and those who want to consume more must pay for a subscription. Digital subscribers are now outstripping paper subscribers, which are declining.
Ad sales, according to CN2i’s CEO, are “reaching set targets,” allowing for a gradual decline in revenue on the printed page.
The National Independent Information Cooperative was formed in late 2019 following the bankruptcy of Capitales Medias, owned by former Liberal politician Martin Cauchon, who succeeded the Desmarais clan in 2015.
By becoming owners through solidarity cooperatives, newspaper employees and executives have been able to pursue their information mission, supported by $21 million in public-private funding.
Capitales Médias’ financial setbacks began under Gesca in the early 2010s with the decline in advertising sales. Contributory leave granted by the employer to the old-age provision had led to an underfunding, so that at the time of the insolvency in 2019 the old-age pensions had been reduced by up to 29%. The company’s total claims at the time were $26 million.
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