MONTREAL—Around 90 employees have been let go at Transcontinental Printing's facility in Aurora, Ont., and two web presses have been shut down and are set for dismantling.

In Edmonton, 40 layoffs have been scheduled in a phased reduction that should be completed by Jan. 24. One machine is scheduled for dismantling. The cutbacks were "driven by market conditions and excess production capacity," said Jennifer McCaughey, senior director of investor relations and corporate external communications.

Headquartered in Montreal, Transcontinental is the largest printer in Canada according to Graphic Monthly Canada's Gold List, with $2.1 billion in revenue reported for the fiscal year of 2013.