TAIPEI (Taiwan News) — The Taiwan Apple Daily newspaper could be punished by a fine of up to NT$500,000 (US$17,969) for labor law infringements after it announced plans to halt the publication of its print edition.

Owned by Hong Kong-based Next Digital media group, the Taiwan Apple Daily said on May 14 that its final print edition will be published May 17, after which only the online version will be available. A total of 333 staff members will be let go due to the decision.

The Taipei City Department of Labor (DOL) said the company has submitted a massive layoff plan, which will see 332 of the employees fired at the end of May and one in June.

The move constitutes a violation of the Act for Worker Protection of Mass Redundancy for failing to give a 60-day notice to those forced to leave. The Apple Daily is now subject to a penalty of between NT$100,000 (US$3,583) and NT$500,000, pursuant to the regulation.

The DOL has asked the newspaper to enter negotiations with its workers within 10 days and provide them with better-than-required severance pay.

Founded by Hong Kong magnate Jimmy Lai (黎智英), the publication said it has been posting losses due to the changing press environment. The newspaper will pivot to developing its digital edition business.