CanWest Axes 560 ...

[M.Dancer]

Burdened by debt, CanWest Global Communications Corp. is cutting 560 jobs from its operations, hoping to buy itself breathing room to withstand an economic downturn.

Canada's largest media company, which owns the Global Television network and daily newspapers in major cities across the country, is hoping to cut $61-million from its annual operating costs. In recent months, the firm has moved closer to breaching one of its bank covenants amid a slumping economy that is sapping advertising dollars from the industry.

http://www.theglobeandmail.com/servlet/sto.../?query=canwest

I haven't heard how many jobs were lost at the Post, but I imagine given their reliance on Canwest wires that they probably got hit the hardest on the print side.