Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company mentioned that they have enacted a “limited number” of adjustments in specific regions, affecting roles at Global B.C., Global National, News 640, and talk radio. These changes, although challenging, are deemed essential to ensure the sustainable structuring of their teams while aiming to minimize disturbances to local news and audio services.
This recent decision follows a previous round of job cuts by Corus earlier this year, predominantly in Western Canada, as part of nationwide programming modifications. In its third quarter financial report, Corus disclosed a net loss of $36.5 million for shareholders, with a 16% revenue decline compared to the previous year. Additionally, the company is currently seeking approval for its proposed restructuring plan, which involves creditors exchanging debt for ownership in a new parent company.
