- Corus Entertainment has confirmed a second round of layoffs affecting AM 640 in Toronto, Global National, Global BC, and other talk radio stations.
- Unifor reported that 10 of its members were affected in this round of layoffs, describing the cuts as a 'domino effect of policy failures.'
- In mid-July, Corus cut 43 jobs, primarily in Western Canada, as part of programming changes across the country.
- Corus reported a net loss of $36.5 million in its third quarter, with revenue down 16% year-over-year.
- The company is awaiting approval of a recapitalization plan that would see lenders swap debt for equity.
Corus Entertainment is undergoing a second round of layoffs this summer, impacting its Toronto radio station AM 640, Global National, and Global BC. A spokesperson stated, “These changes are part of the difficult but necessary work to ensure our teams are structured in a sustainable way.”12
This follows a previous round of cuts in July, where 43 jobs were eliminated, primarily affecting Western Canada. The company is facing significant financial challenges, reporting a net loss of £36.5 million in its third quarter, with revenues down 16 percent year-over-year. The layoffs are part of a broader restructuring effort as Corus seeks to adapt to the evolving media landscape while maintaining its commitment to local news.5
Despite the cuts, the spokesperson emphasized that these layoffs do not indicate any station closures, stating, “We remain committed to supporting our news operations.” The union representing media workers, Unifor, has criticized the layoffs as a sign of the pressures facing local journalism, with president Lana Payne commenting, “This is a domino effect of policy failures and corporate decisions that have steadily weakened local journalism.”34
Corus is also awaiting approval for a recapitalization plan that would allow lenders to swap debt for equity in a new parent corporation, further highlighting the financial strain the company is under.7
“Unifor says 10 of its members were affected in this round, and the cuts follow a $36.5 million net loss in the third quarter. The company is awaiting approval of a recapitalization plan that would see lenders swap debt for equity.”
