Corus Entertainment has implemented workforce reductions in its television and radio divisions. A spokesperson for the company mentioned that they have enacted a limited number of alterations in specific regions, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, although challenging, are deemed essential to ensure the sustainability of their teams while minimizing disruptions to local news and audio services. This decision follows earlier job cuts across Western Canada earlier this year, as part of nationwide programming adjustments.
In its recent financial report, Corus disclosed a net loss of $36.5 million for its third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed restructuring plan, which involves exchanging debt for equity in a new parent entity.
