TORONTO – Torstar Corp. (TSX:TS.B) is shutting down its Torstar Digital division and shuffling its assets into different parts of its operations as part of a way to cut costs.
The company laid off about 10 senior managers at the digital operations as part of the plan.
Torstar spokesman Bob Hepburn said the digital wing, which includes websites like Workopolis and WagJag, will be divided into two parts.
“We’re not shutting anything down,” he said in an interview on Friday.
“It’s an internal reorganization so we can simplify the management structure for Torstar and improve alignments.”
Under the plan, deal website WagJag will be moved into Torstar’s Metroland operations, which include its community newspapers.
Media operations, like the advertising sales company Olive Media, will shift to the Star Media Group, Hepburn said.
Torstar Digital is housed at a leased office in downtown Toronto, which will remain operational for the nearly 200 employees of the digital operations for the foreseeable future, Hepburn said.
Torstar holds an investment in The Canadian Press as part of a joint agreement with the corporate parent company of the Globe and Mail and the parent company of Montreal’s La Presse.