By Ben Glickman
TVA Group will cut 31% of its workforce as it stops all in-house entertainment production and restructures its news division.
The Montreal-based broadcasting company said Thursday that the organizational changes were necessary as it faces a shift to streaming, as well as lower subscriptions and advertising revenue.
The company will cut 547 positions in total, including 300 roles in in-house production, 98 positions related to operating local stations and 149 jobs in other departments.
TVA Group said it would no longer produce entertainment content in-house and would outsource its entertainment programming to external producers.
The company will consolidate its news teams into single buildings in Montreal and Quebec City, though each distinct news organization will still operate separately.
TVA will sell real estate assets outside of Montreal and Quebec City.
“The deficit TVA Group is currently running is simply no longer sustainable,” said acting Chief Executive Pierre Karl Péladeau.
TVA previously cut about 140 jobs in February and cancelled some programming in light of challenges to its business.
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