Corus Entertainment is implementing reductions within 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 necessary to reconfigure teams in a sustainable manner while minimizing disruptions to local news and audio services. This recent action follows previous job cuts by Corus earlier this year, primarily concentrated in Western Canada, as part of nationwide programming alterations.
Corus recently disclosed a net loss of $36.5 million attributable to shareholders in the third quarter, with revenue declining by 16% compared to the previous year. The company is currently awaiting approval for its proposed restructuring plan, aiming to exchange debt for equity with lenders in a new parent company.