Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company confirmed that they have enacted a limited number of changes in specific markets impacting positions at Global B.C., Global National, News 640, and talk radio. These adjustments, although challenging, are deemed essential to ensure the sustainability of their teams while striving to minimize disruptions to local news and audio services. This latest decision follows a previous round of job cuts, predominantly in Western Canada earlier this year, as part of broader programming modifications nationwide.
In a recent financial update, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million in the third quarter, with revenue declining by 16 per cent compared to the preceding year. The company is currently awaiting approval for its proposed restructuring plan, which involves lenders exchanging debt for equity in a new parent entity.
