The Canadian broadcaster, led by CEO Doug Murphy, says a “handful” of jobs are gone amid ongoing cost-cutting as a one-team model has content development execs working together across genres.
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“We believe this new structure will give the team more experience across more genres, to make great shows and drive success for our channels as we remain focused on the execution of our strategic plan and investments that support our long-term resiliency,” the company said. Corus like other Canadian TV networks has seen a dramatic drop in advertising revenues during the pandemic and as a recessionary threat looms, just as programming costs continue to climb. During its most recent second quarter financial earnings report, Corus said TV advertising revenues fell 8 percent to CAN $325.5 million , and by 7 percent for the first six months of the fiscal year.
Rival Bell Media, also grappling with a worsening operating environment, announced it was laying off 1300 employees, or around
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