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Yellow Pages Ltd. cutting 18 per cent of employees, roughly 500 jobs

Last Updated Jan 16, 2018 at 8:32 am EDT

Yellow Media Inc. logo is shown at the company's quarterly results meeting in Montreal, Thursday, May 6, 2010. Yellow Pages Ltd. is cutting roughly 500 jobs in an effort to reduce spending and improve its results. THE CANADIAN PRESS/Graham Hughes

Yellow Pages Ltd. is cutting roughly 500 jobs in an effort to reduce spending and improve its results.

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

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

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

Chief executive David Eckert says the cuts are “absolutely critical to securing the near-term health of the business.”

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