Corus Entertainment Inc. is cutting jobs at its Global News division as it seeks efficiencies across the company and battles adverse trends in the media industry.
The cuts came a few days after Corus said it stands to lose programming next year due to an arrangement struck between Warner Bros. Discovery Inc. and Rogers Communications Inc.
“As part of our ongoing evaluation of our business and continued enterprise efficiency review across Corus, we have made some changes at Global News today, and as a result, certain roles have been impacted,” Corus spokesperson Anna Arnone said in a statement.
“These changes correlate with the current economic and regulatory reality we, and other media organizations, find ourselves in. We are continuously working to improve the way we gather, produce and deliver award winning content.”
Corus shares have been in a tailspin in recent years, slumping to just 24 cents Wednesday on the Toronto Stock Exchange, down from levels above $6 in 2021.
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