Torstar Corporation (Toronto) has announced that it will be closing its Hamilton printing and mailroom operations this summer and will look to eventually sell the property as well. The move will affect 73 full-time and 105 part-time staff and is expected to save $4 – $6 million a year. However, Torstar also expects to absorb a $6 million restructuring charge in connection with the closure. The printing done there will be transferred to TC Transcontinental Printing and other Torstar-owned facilities, as well as other third-party printers, said the Canadian Press. Torstar added that it has extended its printing arrangements with TC Transcontinental Printing to 2024. If the property is sold, the company said it expects that the Hamilton Spectator offices located there will continue to operate a head office in a new location in the Hamilton area. “This was a difficult but necessary decision in order to operate more efficiently,” said Torstar Chief Executive John Boynton. “This is in no way a reflection of the print and mailroom quality at the Hamilton facility, but rather a decision based on aging presses and more cost-effective alternatives.”
