Canadian Magazine Industry News
2 December 2008,     TORONTO
Memo to staff from Tony Viner, president and CEO of Rogers Media

A memo to staff at Rogers Media Inc. from Tony Viner, president and CEO, says that today's layoffs are, predictably, a response to the "global economic turmoil" and a "decline in advertising spending" that is "deeper and steeper than most media companies anticipated." He also noted that the layoff "decisions had  absolutely nothing to do with individual job  performance." Full memo after the break.

The global economic turmoil  that started with the U.S. financial crisis some months  ago continues to deepen. Although we do not have a  crystal ball, various factors indicate that this very  tough economic situation is going to continue through  most of 2009. While we at Rogers Media are not  directly impacted by the credit crisis, it has affected  our advertising partners’ ability to act on the  promotional plans upon which we rely. Globally, the  decline in advertising spending is deeper and steeper  than most media companies anticipated. Although we have implemented  various prudent cost controls over the past several  months, today we are announcing that we have had to make  the very difficult decision to eliminate a number of  positions across the various companies under the Rogers  Media umbrella and at the Toronto Blue Jays. The  decision to eliminate these positions was made after  very careful consideration by the leaders of our various  impacted business units. These decisions had  absolutely nothing to do with individual job  performance.   I understand how difficult it  can be to say goodbye to our former team members. I  firmly believe, however, that the decision to right-size  in order to quickly deal with the global economic  reality is the right decision for our  businesses. And while I am aware that  this news is as unsettling to hear as it is to share, I  have to emphasize the confidence I have in the talent of  our people. Our brands are the leaders in their  categories and we will continue to invest prudently in  order to ensure that we protect that leadership  position. We will continue to expand our portfolio  through new launches. Some of our individual  business units also plan on hiring new talent in the  coming months in order to align our resources where the  market is telling us to be. In conclusion, I would like  to emphasize that we are well-poised not only to deal  with today’s current economic challenges, but also to  maximize our success when the market bounces  back. You will receive more information from your  local management team shortly. If you have any  questions about today’s changes, please bring them to  the attention of your supervisor.

Tony  Viner
President and CEO
Rogers Media 

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Full of terrific information, Thanks!...
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