Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company confirmed that a limited number of changes have been made in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These adjustments are described as challenging yet essential to ensure that the company’s teams are structured in a sustainable manner, with the aim of minimizing disruptions to local news and audio services. This recent development follows earlier job cuts by Corus, primarily in Western Canada, earlier this year as part of nationwide programming modifications.
In its third quarter financial report, Corus disclosed a net loss of $36.5 million attributable to shareholders, reflecting a 16% revenue decline 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.