Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company has confirmed that they have enacted a limited number of adjustments in specific markets, affecting roles at Global B.C., Global National, News 640, and talk radio. These changes are acknowledged as challenging but essential to ensure that the company’s teams are organized in a sustainable manner, with the aim of minimizing disruptions to local news coverage and audio services.
This recent development follows an earlier round of job cuts by Corus, primarily in Western Canada, earlier this year as part of nationwide programming modifications. Corus recently 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.
The company is currently awaiting approval for its proposed restructuring plan, which involves creditors exchanging debt for ownership stakes in a new overarching entity.