Canwest to layoff another 120

Buried deep down in the story about Canwest’s ongoing financial woes is a note that “According to  the filings, Canwest intends to reduce those numbers (of 5,300 employees) by 120 as part of overall restructuring in the current fiscal year.”

Here’s a thought: why not start reducing those numbers from the top, and just work your way down the executive organization chart? After all, these are the bright minds that bought into convergence a decade ago, purchased properties at too high a price (hence their onerous debt load) all the while babbling management-speak about synergies and launching from multiple platforms. After all, in the free market place, shouldn’t bad management pay the consequences of their errors?

“Our Publishing group with a geographic footprint encompassing print, online and mobile audiences and reaching across this country is strong because of the synergies we’ve found by working together, leveraging our strengths and centralizing services that take significant costs out of the business,” said (CEO Dennis) Skulsky, who is now reporting to an independent committee off the Canwest board.

Financial Post, Jan. 8 2010

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