Reeling from huge Q2 loss, Transcon cuts another 250 jobs

Quickly in the wake of a major second quarter loss announced at start of business Thursday, Transcontinental Inc. announced that it was cutting an additional 250 jobs across the company, according to a story by Canadian Press. This is on top of some 1,500 job cuts announced earlier this year and will mean that Transcon will have cut 13% of its workforce, thereby saving $100 million annually."