Postmedia slashes jobs and Sunday editions in Calgary, Edmonton, and Ottawa

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      Things appear to be going from bad to worse for Postmedia Network Canada Corp, which owns the Vancouver Sun, Province, and numerous other daily papers across Canada.

      The company will stop Sunday publication in Calgary, Edmonton, and Ottawa.

      Postmedia spokesperson Phyllise Gelfand told the Toronto Star that more newsroom functions will be centralized in Hamilton for all of its papers.

      The news was transmitted to staff today.

      Twitter reports suggest up to 50 jobs may be lost, which include some copyediting positions. As of this writing, Postmedia has not posted any details on its website.

      Postmedia Class B shares were at $1.35 as of May 23. That's down from a 52-week high of $17.75.

      Last month, Postmedia reported a second-quarter loss of $11.1 million, which was an improvement over the $12.5-million loss over the second quarter in 2011.

      Earlier this month, the Media Union of B.C. reported on its website that the Vancouver Sun and Province "are getting out of the insert business effective July 15, 2012, a move that will cost over 50 Local 2000 members their jobs".

      "Management informed the union about the move on Monday, saying that the insert business was on track to lose almost $1 million this year," the union stated on May 17.

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