Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company confirmed that a limited number of adjustments have been made in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. The spokesperson emphasized that these changes, though challenging, are essential to establish sustainable team structures, while aiming to minimize disruptions to local news and audio services. This decision follows previous job cuts earlier this year, primarily in Western Canada, as part of nationwide programming modifications.
In its most recent financial report, Corus disclosed a net loss attributable to shareholders amounting to $36.5 million in the third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed recapitalization initiative, which involves creditors exchanging debt for ownership stakes in a new parent company.