Corus Entertainment, the owner of Global Television Network and various radio stations, is set to undergo programming adjustments nationwide, leading to numerous job reductions. The decision comes amidst Corus facing challenges with declining advertising revenue and increasing debt.
The union Unifor, representing numerous media employees including those at Corus, disclosed that 43 positions will be eliminated. Unifor’s national president Lana Payne expressed concerns about the impact on local news, particularly in Western Canada.
The breakdown of job cuts by region includes 28 in Alberta, 2 in British Columbia, 5 in Winnipeg, 2 in Saskatoon, 3 in the Maritimes, and 3 in Ontario.
According to an internal memo obtained by CBC News, Corus emphasized that these changes are essential to support operational sustainability and enhance flexibility. While some production of Global News broadcasts for Alberta will be centralized, the company assures continued local news content production in Alberta and plans to introduce additional roles to bolster local news delivery.
One of the affected employees, Scott Roberts, co-anchor of Global Edmonton’s 6 p.m. newscast, shared the news on Instagram, expressing gratitude to viewers and solidarity with impacted colleagues.
The changes at Corus were initially reported by the Western Standard news website. In response, a Corus spokesperson stated the commitment to maintaining local news delivery in Calgary and Edmonton despite role centralization, with further details expected to be reflected on air in the coming weeks.
Corus CEO John Gossling recently highlighted the challenges faced by the company due to declining revenue in radio and television sectors. The company’s shares have significantly dropped over the past year, mainly attributed to financial pressures stemming from the acquisition of Shaw Media in 2016.
To address its debt burden, Corus has undertaken a debt-for-equity swap with lenders, aiming to reduce its debt load. The company estimates significant interest cost savings as a result of this transaction. The recent job cuts at Corus follow similar actions by industry peers such as Bell Canada and Rogers Sports & Media.
Rogers recently announced plans to cut jobs and close radio stations, while Bell Canada confirmed significant job cuts in the previous year, resulting in a restructuring that included the sale of radio stations and termination of multiple television newscasts.