CEO Andrew MacLeod said in a note to staff that the newspaper closings will take place in the Windsor-Essex area of Manitoba and Ontario.
Thirty people will lose their jobs due to permanent closings.
The company will temporarily lay off about 50 people in its sales and marketing teams for three months, after which it will reassess the decision.
MacLeod says that all staff earning $ 60,000 or more, with the exception of authorized sales representatives, will receive a wage cut of at least three months.
The CEO will receive a 30% pay cut, while pay cuts for other staff will range from 5% to 20% depending on their position.