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 programs. These changes, although challenging, are deemed essential to restructure teams in a sustainable manner while minimizing disruptions to local news and audio services.
This recent action follows a previous round of job cuts primarily in Western Canada earlier this year, as part of nationwide programming adjustments. Corus had reported a net loss of $36.5 million for the third quarter, reflecting a 16% decline in revenue compared to the previous year. The company is presently seeking approval for its proposed recapitalization scheme, which involves creditors exchanging debt for ownership in a new parent entity.