Bell Media plans to lay off about 5% of its Toronto workforce due to “financial pressure” in its advertising and subscription TV services, the Financial Post reports.
The radio and television division of BCE Inc. said Monday that as many as 120 jobs will be cut this summer.
“This morning, Bell Media informed the Federal Minister of Labour that we will be required to eliminate up to 120 positions in our Toronto television operations,” Bell Media president Kevin Crull said in a memo to employees on Monday.
“This represents a reduction of approximately 5% of our Toronto area workforce and 1.8% of the national team. As you know, the television industry is subject to a competitive and fast-changing business
Bell Media spokesman Scott Henderson declined to specify where the cuts would be made, but said the layoffs do not include jobs in radio.
Earlier Monday, the president of CTV News confirmed that its prime time current affairs show “Kevin Newman Live” had been pulled from the air, though Henderson said the announced job cuts were not related to the show’s cancellation.
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