Yellow Pages Ltd. cutting roughly 500 jobs


MONTREAL — Yellow Pages Ltd. announced a plan to cut roughly 500 jobs on Tuesday in an effort to reduce spending and improve its results.

The company (TSX:Y) said the job losses will amount to close to 18 per cent of its employees.

“Decisions that materially impact our employees are difficult but absolutely critical to securing the near-term health of the business while we build a great company that provides excellent opportunities in the future,” Yellow Pages chief executive David Eckert said in a statement.

“Today’s actions are one element resulting from a comprehensive review of our operating and capital spending, aimed at creating a strong financial basis for stability and growth.”

The cuts will be made across the country and all parts of the company’s business.

Yellow Pages said it expects to take a $17-million restructuring charge related to the decision.

In addition to the Yellow Pages print directories, the business is a digital media and marketing company.

Its online properties include,,,,,, and YP NextHome.

The Canadian Press