New Management Team in Place

Newsprint giant AbitibiBowater has taken the first step towards becoming a leaner company by streamlining its management team.

The senior executive team has been reduced to six from nine people, with more head-office cuts to be announced in the coming weeks as the Montreal-based company restructures under court protection from creditors.

AbitibiBowater wouldn't indicate how many positions it is looking to cut, nor how much money is expected to be saved from the exercise.

The head office operation includes 750 people, including those under full-time contract.