Corus Entertainment has implemented workforce reductions within its television and radio divisions. A spokesperson for the company disclosed that a limited number of adjustments have been made in specific regions, affecting positions at Global B.C., Global National, News 640, and talk radio. These modifications are described as challenging yet essential to establish sustainable team structures and minimize disruptions in local news and audio services. This action follows a prior round of job cuts, primarily in Western Canada earlier this year, as part of nationwide programming alterations.
Corus recently announced a net loss attributable to shareholders of $36.5 million in the third quarter, with revenue declining by 16% compared to the previous year. The company is currently seeking approval for its proposed recapitalization strategy, which involves lenders exchanging debt for equity in a new parent corporation.