Corus Entertainment has implemented workforce reductions in its television and radio divisions. A spokesperson for the company mentioned that they have implemented a limited number of changes in specific markets, affecting positions at Global B.C., Global National, News 640, and talk radio. These adjustments are described as challenging but necessary to ensure that their teams are organized sustainably, with minimal impact on local news and audio services. This recent action follows earlier staff reductions, primarily in Western Canada, earlier this year as part of nationwide programming modifications.
Corus recently disclosed a net loss of $36.5 million attributed to shareholders in its third quarter, with a 16% decline in revenue compared to the previous year. The company is currently seeking approval for its proposed restructuring plan, which involves creditors exchanging debt for ownership in a new parent company.