Corus Entertainment has initiated workforce reductions in its television and radio divisions. A spokesperson for the company mentioned that they have implemented a limited number of changes in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These adjustments are described as challenging yet essential to ensure that the company’s teams are organized in a sustainable manner, while also minimizing disruptions to local news and audio services.
This latest decision follows a previous round of job cuts, primarily in Western Canada earlier this year, as part of nationwide programming modifications. Corus recently 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 recapitalization strategy, which involves creditors exchanging debt for ownership in a new parent entity.