Yellow Media Limited Announces Realignment of Workforce to Better Support Ongoing Digital Transformation
Montreal (Quebec), November 12, 2013 – Yellow Media announced today a 10 percent reduction in its overall workforce resulting from the realignment of the Company’s cost structure in order to accelerate its transformation and continue growing digital revenues.
To further advance its digital transformation, Yellow Media will cut approximately 300 positions across its offices, primarily in domains related to its print and legacy operations but also including various support functions. The majority of these positions will be phased out by the end of 2013, with the remaining terminating by early 2014.
“As we experience continued evolution of our digital operations, we needed to carefully review and evaluate the operational efficiency of our organization. To ensure we’re positioned to accelerate digital revenue growth, we have made the difficult decision to change the dynamics of our workforce,” said Ginette Maillé, Chief Financial Officer of Yellow Media. “We’re working to ensure all affected employees are treated with respect and given appropriate support throughout this phase of our transformation.”
Since January 2013, the company has recruited 175 employees in the domains of IT and digital media. The Company also plans to add additional positions in these areas. Yellow Media continues to focus on investing in dedicated training programs for its existing workforce on digital skills upgrade and enhancement, digital product training, and change management.
Wherever possible, employees in positions affected by the announcement will be considered for open positions in other areas of the company or its respective divisions.
Digital revenues of Yellow Media totaled $102 million in Q3 2013, accounting for 43% of total revenues.
Through its various companies, Yellow Media offers digital marketing services including mobile and online advertising, website and video creation and production, search engine optimization and search engine marketing services, and more.
Daily operations including client account services will be unaffected by these changes.
About Yellow Media Limited
Yellow Media Limited (TSX: Y) is a leading media and marketing solutions company in Canada. The Company owns and operates some of Canada’s leading properties and publications including YellowPages.ca™ , Canada411.ca , RedFlagDeals.com™ , Yellow Pages™ print directories, as well as Yellow Pages and ShopWise mobile apps. Its online destinations reach over 8 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded over 6 million times. Yellow Media Limited is also a leader in national digital advertising through Mediative , a division of Yellow Pages Group devoted to digital marketing and performance media services for national agencies and advertisers. For more information, visit corporate.yp.ca.