Sun Media cuts today?

Toronto Sun Family: 1971 - 2008: TorSun cuts?

Could (today) be Black Tuesday for the Toronto Sun?

Tipsters say an undisclosed number of employees who arrive at work Tuesday will leave as the latest victims of Quebecor's hatchet.

"It ain't over," one Sun vet said of the cutbacks that have ravaged the Toronto Sun since Quebecor bought Sun Media in 1999.

"No one knows who yet, but it is supposed to be big," said another newsroom staffer.

Another TSF tipster said staff could be cut by 10%.

UPDATE: Unfortunately, this story is entirely true..

Sun Media Announces Workforce Reductions

Last update: 10:45 a.m. EST Dec. 16, 2008
TORONTO, ONTARIO, Dec 16, 2008 (MARKET WIRE via COMTEX) -- As a result of the fundamental transformation under way in the newspaper industry in recent years and the accelerated deterioration of economic activity affecting its print media revenue sources, Sun Media Corporation, Canada's largest publisher of newspapers, has announced that it will reduce its workforce by approximately 600 full-time equivalent positions as part of a major restructuring of its operations in Western Canada, Ontario and Quebec. The staff reductions, the vast majority of which will occur by the end of the year, represents about 10% of the Company's workforce, excluding mail room operations, for which staff count fluctuates based on volume.
This initiative is expected to result in restructuring costs of approximately $14 million.

UPDATE:

As a point of comparison, in 2001, Sun Media cut 300 jobs in May and another 125 jobs in October, which absolutely crippled the newspapers. I remember how bad it was there after those two rounds of cuts. Since then and before today, there were at least two additional rounds of job cuts (including the one that ended my time there), and now they're coming back with 600 more cuts. Unbelievable.

UPDATE: The Toronto Sun Family Blog has all the gory details.