Quebecor Media Group continues its transformation
Quebecor Media Group abolishes 220 positions
In a changing industry environment, Quebecor Media Group is announcing changes to its organizational structure designed to balance its cost structure and enhance operational efficiencies. The initiatives will enable Quebecor Media Group to maintain its lead in news and content production and keep focusing on its flagship brands.
"In Québec as elsewhere in the world, our industry is facing ongoing disruption," noted Julie Tremblay, President and CEO of Quebecor Media Group and TVA Group Inc. "We have therefore taken a number of initiatives over the past two years to adapt to the changes, including the creation of Quebecor Media Group, an integrated media company, and the acquisition and sale of various properties. Today it is clear that we must continue our transformation in order to further adjust structural costs and become more agile."
Unfortunately, this transformation will entail the reduction of 220 positions at Quebecor Media Group, or nearly 8% of its workforce, mainly managers, professionals and administrative support staff, in order to bring staffing levels in line with the organizational changes and reduce operating costs. At TVA Group, 125 positions will be abolished. The staff reductions will have no impact on the newsrooms or on news coverage across Québec.
Quebecor Media Group also announced that local sales forces, including those for the newspapers, will now be under the responsibility of the existing Advertising Network, which was already responsible for Quebecor Media Group’s national sales, media creativity and research units, and will now operate a fully integrated sales force. The new structure will better meet advertisers’ needs and enhance responsiveness in a changing industry.
As well, TVA Publications will carry out an internal restructuring and cease publication of two magazines — CHEZ SOI and Tellement bon — in order to concentrate its efforts on its flagship brands and increase their reach. The Group will maintain a strong presence in the home decorating and cooking categories with brands such as Les idées de ma maison, Style at Home, Coup de pouce, Canadian Living and Recettes du Québec.
"I sincerely thank all the employees who will, unfortunately, be affected by these decisions for their contribution," said Julie Tremblay. "While staff reductions are necessary in view of the transformation, these decisions are always very difficult to make."
About Quebecor Media Group
Canadian leader in news and entertainment media, Quebecor Media Group comprises newspapers, books, music, TVA Group Inc., out-of-home, printing and distribution, while having its own advertising sales and press agency. Throughout its brands, Quebecor Media Group is committed to providing the best possible customer experience and to contributing to the spread of culture.
About TVA Group
TVA Group Inc., a subsidiary of Quebecor Media Inc., is a communications company engaged in the broadcasting, film and audiovisual production, and magazine publishing industries. TVA Group Inc. is the largest broadcaster of French-language entertainment, information and public affairs programming in North America, one of the largest private production companies, and the largest publisher of French-language magazines. TVA Group Inc. also publishes some of Canada’s most popular English-language titles. The Corporation’s Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B.