Corus Entertainment is making another round of cuts across its television and radio operations as the Canadian media company struggles with declining revenue and mounting financial pressure.
A Corus spokesperson said a “small number” of changes have been made in select markets, affecting positions at Global B.C., Global National, News 640 and the company’s talk-radio operations. Corus said the restructuring is aimed at creating a more sustainable organization while limiting disruption to local news and audio programming.
The latest reductions follow dozens of job cuts earlier this year, primarily in Western Canada, as Corus implemented programming changes across the country.
The company recently reported a $36.5-million net loss attributable to shareholders in its third quarter, while quarterly revenue dropped 16 per cent year-over-year.
Corus is also awaiting approval of a proposed recapitalization plan under which lenders would exchange debt for equity in a new parent company.
