Montreal’s La Presse plans to cut 37 jobs

La Presse adopted a not-for-profit structure earlier this year. Karol Dahl/Global News

Montreal-based La Presse is seeking to cut 37 jobs as part of cost-cutting operations.

Management of the French-language media organization met with employees Thursday morning to announce they were seeking voluntary departures.

READ MORE: Montreal’s La Presse officially adopts not-for-profit structure

La Presse has a total of 550 employees, with 230 of them in its newsroom.

The move comes less than six months after the newspaper officially adopted a not-for-profit structure. Power Corp., which owned La Presse, agreed to grant $50 million to the new venture.

WATCH: La Presse goes non-profit

Click to play video: 'Focus Montreal: ‘La Presse’ goes non-profit'
Focus Montreal: ‘La Presse’ goes non-profit

In May, the Quebec government paved the way for the change by fast-tracking a provision of an act adopted in 1967 regarding La Presse’s ownership.

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At the time, La Presse described the not-for-profit structure as a “modern approach” and added it was adapted to the realities of present-day media.

The media organization also ceased publishing print editions on Dec. 30, 2017, opting instead to publish content on its digital platforms.

— with files from the Canadian Press

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