Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company revealed that a limited number of adjustments have been made in specific markets, affecting roles at Global B.C., Global National, News 640, and talk radio stations. These changes, while challenging, are deemed necessary to establish sustainable team structures and minimize disruptions to local news and audio services. This decision follows earlier staff reductions, primarily in Western Canada, as part of nationwide programming alterations.
In its recent financial report, Corus disclosed a net loss of $36.5 million for the third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for a proposed recapitalization scheme that involves creditors exchanging debt for ownership stakes in a new parent entity.