Corus layoffs: Canada’s Global News hit by job cuts

Benchmarks
Nifty24,252.0020.16
FEATURED FUNDS★★★★★
Motilal Oswal Midcap Fund Direct-Growth
5Y Return
24.02 %
Invest Now
Enter search text:
Business News›News›International›Global Trends›Corus layoffs: Canada’s Global News, Global BC and News 640 hit by fresh job cuts just five months after C$500M debt-restructuring bid as broadcaster faces mounting financial pressure
Read Today's Paper
Corus layoffs: Canada’s Global News, Global BC and News 640 hit by fresh job cuts just five months after C$500M debt-restructuring bid as broadcaster faces mounting financial pressure
Synopsis
Corus layoffs global news: Corus Entertainment has confirmed a fresh round of layoffs across its Canadian television and radio operations. The cuts affect Global BC, Global National, News 640 in Toronto and other talk-radio operations. The latest Corus layoffs come five months after the company’s C$500M debt-restructuring bid. A company spokesperson says it has made a “small number” of changes at Global BC, Global National, News 640 and talk radio.

The newest Corus layoffs come roughly five weeks after the company announced its previous round of workforce reductions
Corus layoffs: Corus Entertainment has confirmed another round of job cuts across its television and radio operations, with employees at Global BC, Global National, News 640 in Toronto and other talk-radio operations affected as the Canadian broadcaster continues to restructure its business.
The latest Corus layoffs come just five months after the company unveiled a C$500 million debt-restructuring bid, underscoring the financial pressure facing the Canadian media giant.
The fresh cuts also come only weeks after another major round of layoffs that eliminated dozens of unionized television positions and included changes to how Global News produces local broadcasts in Alberta. Corus has not disclosed the exact number of employees affected by the newest cuts.
Corus confirms new round of layoffs
Corus confirmed that positions are being eliminated across selected television and radio operations. The latest reductions affect roles at Global BC, Global National, News 640 and the company's talk-radio network, according to the broadcaster.
In a statement, a Corus spokesperson said: “As we continue to adapt to the evolving needs of our business, Corus has made a small number of changes in select markets, including roles at Global BC, Global National, News 640 and talk radio.” The company did not provide a breakdown of how many employees have lost their jobs or identify every position affected.
ALSO READ: Jeff Bezos’ ex-wife MacKenzie Scott, who sold half of her Amazon stake, helped erase $40 billion in medical debt with $100 million in donations
What Corus said about the job cuts
Corus described the latest restructuring as necessary to make its operations more sustainable. “These changes are part of the difficult but necessary work to ensure our teams are structured in a sustainable way, while minimizing disruption to local news and audio delivery,” the company said.
Corus also stressed that the latest Corus layoffs do not mean the affected stations are being closed. “We remain committed to supporting our news operations, and these changes do not reflect station closures or a retreat from our commitment to news,” the spokesperson said.
The company added that it is continuing to change its operating model so it can deliver news to audiences across multiple platforms.
ALSO READ: Prince Harry and Meghan Markle’s UK return update: ‘The town is exhausted by entitlement and never-ending drama,’ California neighbours react to their exit
Global BC and Global National among affected operations
The latest round is significant because the cuts extend into some of Corus's best-known news operations. Global BC and Global National are both affected, while Toronto's News 640 and other talk-radio operations are also facing reductions.
The cuts therefore reach beyond the production changes announced earlier this summer, when Corus moved to centralize certain technical production work for Global News broadcasts in Calgary and Edmonton. That earlier restructuring resulted in 43 unionized television positions being eliminated, according to Unifor figures cited in reports.
ALSO READ: MacKenzie Scott, ex-wife of Amazon founder Jeff Bezos, who has given away over $26 billion to 2,500+ nonprofits, returns to fiction in August after 13 years with new novel
Another round of cuts follows July layoffs
The newest Corus layoffs come roughly five weeks after the company announced its previous round of workforce reductions. The July cuts primarily affected television employees, with positions eliminated in Alberta and other parts of Canada.
Corus said the Alberta changes would allow some production work to be centralized in Toronto while local newsrooms continued operating with reporters, anchors and other newsgathering staff. The latest announcement shows that Corus' cost-cutting efforts are continuing beyond that Alberta restructuring.
Corus facing significant financial pressure
The workforce reductions come as Corus attempts to deal with a much broader financial challenge. The company is pursuing a restructuring that would reduce more than C$500 million in debt and other liabilities, with lenders expected to take a dominant ownership position in the restructured business if the proposed transaction proceeds.
The financial pressure has made cost control a major focus for the company. Corus has also been dealing with declining advertising and subscriber revenue, adding to the challenges facing its traditional television and radio businesses.
Corus says local news remains a priority
Despite the workforce reductions, Corus maintains that it is not retreating from news.
The company said the latest changes are intended to reduce disruption to its local news and audio services while allowing the business to operate in what it described as a more sustainable structure.
For employees and audiences, however, the latest cuts add to a series of changes across Corus' news and radio operations in recent years.
The company now faces the challenge of balancing lower costs with its commitment to maintaining local and national news coverage as Canada's traditional broadcasting industry continues to undergo major changes.
Add as a Reliable and Trusted News Source
Add Now!
(You can now subscribe to our WhatsApp channel)
(You can now subscribe to our WhatsApp channel)
Read More News on
corus layoffs global newsCorus layoffsCorus Entertainment layoffsCanada layoffsGlobal News layoffsGlobal BC layoffsGlobal National layoffsNews 640 layoffsCorus job cutsCanadian media layoffs


Enter search text:
Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories
& personalised newsletters
Login Now
Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &
in-depth stock reports
Subscribe Now
ET
Unlock Access to All Exclusives with ETPrime FREE TRIAL
15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers
Trial offer expiring in00 : 05 : 00
I'd rather pay ₹2599 now


Uh-oh! This is an exclusive story available for selected readers only.
Worry not. You’re just a step away.
Prime Account Detected!
It seems like you're already an ETPrime member with
Login using your ET Prime credentials to enjoy all member benefits
Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.
Unlock ETPrime's Exclusive Stories Today!
Subscribe to gain powerful insights on business, stock market and industry trends.
Big Price Drop! Flat 40% Off
Student Only Offer
Already a Member? Sign In now
Already a Member? Sign In now
Already a Member? Sign In now
Offer Exclusively For You
Save up to Rs. 700/-
ON ET PRIME MEMBERSHIP
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get 1 Year Free
With 1 and 2-Year ET prime membership
Avail Offer
Offer Exclusively For You
Get Flat 40% Off
Then ₹ 1749 for 1 year
Avail Offer
Offer Exclusively For You
ET Prime at ₹ 49 for 1 month
Then ₹ 1749 for 1 year
Avail Offer
Special Offer
Get flat 40% off on ETPrime
Avail Offer
Avail Offer
Claim NowAlready a Member? Sign In now
Need Assistance?
Connect with an ETPrime expert for personalized support and guidance
+91 9484700004
' + h3 + '
' + h4 + '
- ' + listing + '
What’s Included with
ETPrime Membership
1Exclusive Insights That Matter
Uncover the truth with our investigative stories
Make strategic moves using the real-world case studies
Read industry-specific stories to identify emerging trends
Spot opportunities with in-depth insights that matter
Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year
2Invest Wisely With Smart Market Tools & Investment Ideas
Alpha Trade
Get daily trade ideas from SEBI-registered research analysts.
Investment Ideas
Grow your wealth with stock ideas & sectoral trends.
Stock Reports Plus
All-in-one stock research with Stock Score, peer comparison & key signals.
BigBull Portfolio
Get to know where the market bulls are investing to identify the right stocks.
Stock Analyzer
Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.
Market Mood
Analyze the market sentiments & identify the trend reversal for strategic decisions.
Stock Talk Live at 9 AM Daily
Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.
3Stay informed anytime, anywhere with ET ePaper
ePaper – Print View
Read the PDF version of ET newspaper. Download & access it offline anytime.
ePaper – Digital View
Read your daily newspaper in Digital View & get it delivered to your inbox everyday.
Wealth Edition
Manage your money efficiently with this weekly money management guide.
4Times Of India Subscription (1 Year)
ePaper
Read the PDF version of newspaper. Download & access it offline anytime.
Deep Explainers
Explore the In-depth explanation of complex topics for everyday life decisions.
Health+ Stories
Get fitter with daily health insights committed to your well-being.
Personal Finance+ Stories
Manage your wealth better with in-depth insights & updates on finance.
New York Times Exclusives
Stay globally informed with exclusive story from New York Times.
5Enjoy Complimentary Subscriptions From Top Brands
Docubay Subscription
Stream new documentaries from all across the world every day.
Stories you might be interested in




Leave a Reply