May 24, 2019 By PrintAction Staff
Torstar Corporation today announced it will close its Hamilton, Ont., printing and mailroom operations at 44 Frid Street on or about August 24, 2019, affecting approximately 73 full-time and 105 part-time staff. The printing work currently performed at the Hamilton facility will be transferred to TC Transcontinental Printing and other Torstar-owned facilities as well as other external printers.
The move is expected to result in savings of approximately $4 million to $6 million annually once fully implemented. Torstar expects to record a restructuring charge in the range of approximately $6 million in connection with the closure.
In connection with this decision Torstar has also extended its printing arrangements with TC Transcontinental Printing to 2024.
Torstar says it will begin the sale of the Hamilton property. If the property is sold, Torstar anticipates that The Hamilton Spectator will continue to operate a head office in a new location in the Hamilton area. Delivery of The Hamilton Spectator and other publications currently printed at the Hamilton facility will continue under their current arrangements.
“This was a difficult but necessary decision in order to operate more efficiently,” John Boynton, President and CEO of Torstar Corporation, said. “This is in no way a reflection of the print and mailroom quality at the Hamilton facility, but rather a decision based on aging presses and more cost-effective alternatives.
“The move is expected to generate significant cost-savings, which will give us the opportunity to focus more of our efforts on creating great editorial content and engaging customers in both our print and digital news outlets. Unfortunately, though, it also means saying goodbye to our Hamilton production facility employees.”
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