Corus Entertainment cuts jobs at Global BC, Global National, and News 640

Corus Entertainment is making cuts across its television and radio operations. A company spokesperson confirmed the layoffs affecting select markets including Global BC, Global National, News 640, and talk radio.

The company said the changes are "difficult but necessary to ensure its teams are structured in a sustainable way, while minimizing disruption to local news and audio delivery." The latest round follows earlier job cuts, mostly in Western Canada, that Corus implemented earlier this year as part of broader programming changes.

Corus reported a net loss attributable to shareholders of $36.5 million in its third quarter, with revenue falling 16 percent compared with a year earlier. The company is awaiting approval of its proposed recapitalization plan that would see lenders swap debt for equity in a new parent corporation. The Ontario Superior Court of Justice approved the debt-for-equity recapitalization transaction under the Canada Business Corporations Act. In its court application, Corus stated the transaction is necessary to address its high debt load and improve financial stability to support continued operation of its services.

The source does not specify the exact number of jobs being cut in this latest round or the total number cut earlier in 2024.