Corus Entertainment has implemented workforce reductions at its television and radio divisions. According to a company representative, a limited number of adjustments have been made in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes, though challenging, are deemed necessary to ensure the sustainability of their teams’ structure while minimizing disruptions in local news and audio services. This latest action follows previous job cuts earlier in the year, primarily in Western Canada, as part of nationwide programming modifications.
In its recent financial report, Corus disclosed a net loss of $36.5 million for the third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves exchanging debt for equity with lenders in a new parent company.