As revenue slumps from a “challenging advertising environment,” Canadian media company Corus Entertainment — which houses brands like Global News and YTV — is “aggressively” cutting costs, continuing layoffs and shutting down parts of its business.
In the company’s third-quarter earnings call on Monday, co-chief executive officer John Gossling said that by August, Corus expects it will have reduced its full-time workforce by 25 per cent — or nearly 800 jobs — compared with September 2022. By the end of May, Corus had cut about 500 employees.
