Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company confirmed that they have enacted a “limited number” of adjustments in specific regions, affecting positions at Global B.C., Global National, News 640, and talk radio. These changes are described as challenging yet essential to ensure the organization’s teams are structured sustainably, with a focus on minimizing disruptions to local news and audio services. This development follows a previous round of job cuts by Corus earlier in the year, primarily concentrated 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, reflecting 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.