Corus Entertainment has implemented workforce reductions within its television and radio divisions.
A spokesperson for the company announced that they have enacted a series of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed essential to restructure their teams in a sustainable manner while minimizing disruptions to local news and audio services.
This recent decision follows a prior round of job cuts earlier this year, primarily in Western Canada, as part of nationwide programming alterations by Corus.
In its third quarter financial report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million, with a 16% revenue decline compared to the previous year. The company is currently awaiting approval for its proposed recapitalization strategy, which involves lenders exchanging debt for ownership in a new parent company.