Corus Entertainment plans to cut 25% of its workforce by end of June due to declining advertising revenue.
Corus Entertainment plans to cut 25% (around 800 positions) of its full-time workforce by end of June, as it faces declining advertising revenue, regulatory challenges, and licensing battles. The job losses follow a 16% revenue decline and a $769.9 million shareholder loss for Q2, compared to a $495.1 million loss the previous year. Corus attributes much of the ad slump to the lingering effects of the 2023 Hollywood strikes and inflationary and competitive challenges.
July 15, 2024
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