Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company stated 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. These changes, though challenging, are deemed essential to reorganize teams sustainably while minimizing disruptions to local news and audio services. This recent action follows a previous round of layoffs, predominantly in Western Canada, earlier this year as part of nationwide programming modifications.
Corus recently disclosed a net loss attributable to shareholders of $36.5 million in the third quarter, with revenue declining by 16% compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves creditors exchanging debt for ownership stakes in a new parent company.
