Corus Entertainment Inc. says it expects to have slashed 25 per cent of its full-time workforce by the end of next month compared with the beginning of its 2023 fiscal year, as the company continues to 'aggressively cut costs.'
The Corus logo at Corus Quay in Toronto is photographed on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana MartinCorus Entertainment Inc. says it expects to have slashed 25 per cent of its full-time workforce by the end of next month compared with the beginning of its 2023 fiscal year, as the company continues to "aggressively cut costs."
In May, Canada's broadcasting regulator granted the company's request to ease some of its Canadian content spending requirements after it warned of an increasingly dire financial situation. The CRTC noted the risk of Corus exiting the Canadian broadcasting landscape "would greatly reduce the options Canadian viewers have for content."
Corus soon after announced that Doug Murphy was retiring from the top job and that Gossling and fellow executive Troy Reeb had been appointed as co-CEOs. "I don't think we want to reveal the overall strategy at this point, but ... don't assume that the only line of defence is through the regulator," said Gossling.
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Corus Entertainment says ongoing job cuts will amount to 25% of full-time positionsTORONTO — Corus Entertainment Inc. says it expects to have slashed 25 per cent of its full-time workforce by the end of next month compared with the beginning of its 2023 fiscal year, as the company continues to 'aggressively cut costs.
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Corus Entertainment reports Q3 loss, revenue down amid 'challenging' ad environmentTORONTO — Corus Entertainment Inc. reported a loss attributable to shareholders of $769.9 million in its latest quarter compared with a loss of $495.1 million a year earlier as its revenue fell 16 per cent.
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