Corus Entertainment has announced reductions in its television and radio divisions. A spokesperson for the company stated that they have implemented a series of changes in specific markets, impacting positions at Global B.C., Global National, News 640, and talk radio stations. These adjustments are described as challenging yet essential to ensure that their teams are organized in a sustainable manner while minimizing any disruptions to local news and audio services.
This recent development follows a previous round of job cuts by Corus, predominantly in Western Canada, earlier this year, aligning with programming modifications nationwide. Corus recently disclosed a net loss of $36.5 million for the third quarter, with a 16% decrease in revenue 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.