Corus Entertainment is implementing reductions across its television and radio divisions. A spokesperson for the company has confirmed that they have implemented a limited number of adjustments in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These alterations are described as challenging yet essential to establish sustainable team structures while minimizing disruptions to local news and audio services. This recent action follows earlier job cuts by Corus, predominantly in Western Canada, earlier this year as part of nationwide programming modifications.
Corus recently disclosed a net loss of $36.5 million for its third quarter, with revenue declining by 16% compared to the previous year. The company is currently seeking approval for its proposed restructuring strategy, which involves creditors exchanging debt for ownership in a new parent company.