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 adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, although challenging, are essential to ensure the sustainability of their teams while minimizing disruptions to local news and audio services. This decision follows Corus’ earlier streamlining efforts, which resulted in the elimination of numerous positions, particularly in Western Canada, as part of nationwide programming modifications.
In its recent financial report, Corus disclosed a net loss of $36.5 million attributed to shareholders in the third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed restructuring strategy, aiming to have creditors exchange debt for equity in a new corporate entity.