Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company disclosed that they have enacted a “limited number” of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, though challenging, are vital to ensure the sustainability of their teams’ structure while minimizing disturbances to local news and audio services.
These recent actions follow previous job cuts by Corus, predominantly in Western Canada earlier this year as part of nationwide programming alterations. In its third quarter report, Corus revealed a net loss of $36.5 million attributable to shareholders, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which entails creditors exchanging debt for equity in a new parent company.