Wednesday, June 05, 2013

Quebecor's TVA eliminates 90 jobs

Quebecor Media's TVA group has eliminated 90 jobs or about 4.5% of its staffing. TVA is the largest publisher of consumer magazines in the Quebec market; it is not known what proportion of the layoffs involved magazine jobs. The company recently sold its jobs and dating website to Mediagriff and was reported to have a major plunge in profits in the first quarter of 2013 compared with the same period a year earlier.
Over all, Quebecor posted a 50% drop in net profit of $35.6-million or 57 cents per share in the quarter, compared with $71.4-million or $1.13 per share in the year-earlier period.

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