Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company mentioned that a limited number of adjustments have been made in specific markets, affecting roles at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, though challenging, are vital to ensure the organization’s teams are structured sustainably, with minimal impact on local news and audio services. This recent action follows a prior round of job cuts, primarily in Western Canada, earlier this year as part of nationwide programming modifications.
In its third-quarter financial report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million, with a 16% revenue decline compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves creditors exchanging debt for ownership in a new parent company.
