The YouTube video created by La Presse staff pays homage to the paper's tradition of uncovering scandals and bemoans a world in which the paper doesn't exist. (YouTube/CBC)

Employees at La Presse are trying to keep their sense of humour in the face of threats that the 125-year-old Montreal newspaper could be shut down.

If it can’t reach a deal with the union representing its journalists by Dec. 1, the paper's parent company, Gesca Ltée, has said it will close the daily because it can no longer maintain its current business model.

In response, a team of reporters recorded a satirical music video and posted it on YouTube.

The song is called Si La Presse n'existait pas, or "If La Presse no longer existed." A parody of Et si tu n'existais pas by Joe Dassin, it imagines a world without the daily.

The video, featuring iconic photos and editorial cartoons from the paper, pays homage to recent investigative reports that have revealed allegations of collusion and corruption in the construction industry.

"Where would we read Foglia, Lagacé, Petrowski and Tremblay?" asks the song, referring to popular columnists. "There would be no obituaries … word search puzzles or crosswords."

Sports reporter Richard Labbé, the lead vocalist on the song, said the video was a way to blow off steam in the tense newsroom where staff is preparing for the worst.

"People are very worried,” Labbé said. "This has been going on since last summer, and there hasn't been much progress."

The loss of the paper would be a big blow to democracy, Labbé said.

"Just look at what the paper has done recently regarding all of the scoops at city hall and the wrongdoing over there," he said.

Management is seeking several concessions from the union, including the end of a four-day workweek for full-time pay.

Management has cut travel expenses, and there are rumours it will take back employee BlackBerrys and laptop computers, Labbé said.

"Let's just say that it's not a very good atmosphere at the paper because of all the rumours going around," he said.

The two sides were talking Thursday.

Management of the paper, a unit of Desmarais family-controlled Power Corp., could not be reached for comment.