Transcontinental Inc. is cutting 1,500 jobs, about 10 per cent of its workforce, across its North American operations and reducing costs to address the economic slide.
The Montreal-based printer and media company says the rapid deterioration of the economy has reduced spending by its customers, with commercial printing projects, direct mail projects and magazine ad placements cancelled or postponed by companies hit by the recession.
Transcontinental said it has also frozen hiring and will introduce unpaid leave and reduced work weeks.
