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