Corus Entertainment has implemented reductions in its television and radio divisions. A spokesperson for the company mentioned that they have enacted a “limited number” of adjustments in specific markets, impacting positions at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed necessary to restructure teams in a sustainable manner while aiming to minimize disruptions to local news and audio services.
This recent action follows a prior round of job cuts by Corus, primarily in Western Canada, earlier this year, as part of nationwide programming modifications. Corus has disclosed a net loss attributable to shareholders amounting to $36.5 million in the third quarter, with a 16% decline in revenue compared to the previous year for the same period. The company is currently awaiting approval for its proposed financial restructuring plan, which involves creditors exchanging debt for ownership in a new parent company.