Corus Entertainment has implemented reductions within its television and radio divisions. A spokesperson for the company stated that they have enacted a “limited number” of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, though challenging, are essential to ensure the organization’s teams are structured sustainably, while striving to minimize disruptions to local news and audio services. This recent action follows previous job cuts by Corus earlier in the year, primarily in Western Canada, as part of nationwide programming alterations.
Corus recently disclosed a net loss of $36.5 million attributable to shareholders in the third quarter, with revenue decreasing by 16% compared to the previous year. The company is currently awaiting approval for its proposed restructuring plan, which involves creditors exchanging debt for equity in a new parent company.
