Corus Entertainment Announces Further Staff Reductions
Corus Entertainment has implemented additional job cuts across its television and radio divisions, impacting operations such as Global B.C., Global National, News 640, and talk radio stations. This follows earlier workforce reductions and comes as the company reported significant financial losses in its recent third quarter.
Corus Entertainment has confirmed new staff reductions affecting its broadcast properties. A company representative stated that a limited number of positions were eliminated in specific markets, including roles within Global B.C., Global National, News 640, and talk radio operations.
These measures are described as necessary steps to ensure the long-term sustainability of its teams while aiming to minimize disruptions to local news and audio programming. This latest round of changes follows previous layoffs that occurred earlier this year, primarily in Western Canada, as part of broader programming adjustments.
The company recently disclosed a third-quarter net loss of $36.5 million for its shareholders. This financial result was accompanied by a 16 per cent decrease in revenue compared to the previous year. Corus Entertainment is currently awaiting regulatory approval for a proposed financial restructuring plan, which involves converting existing debt into equity within a newly formed parent company.
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