Yet another major Canadian company has announced significant job losses – this time, Rogers Media is making the cutbacks with around four per cent of its workforce set to go.
The media conglomerate announced the cost-cutting measure on Monday, saying 200 jobs would be lost as a result.
"We have identified cost efficiencies in production, operations and procurement, and have made the difficult decision to reduce head count, primarily affecting conventional TV, radio, publishing and back-office positions," said spokeswoman Andrea Goldstein.
A softening advertising market, fierce competition from global players and shifting audience consumption habits were identified by Rogers Media as the reason behind the difficult decision.
While specific details are yet to be released, the cuts – due to come into effect next week – will primarily affect Rogers’ conventional television, radio and publishing operations as well as back-office roles.
According to the company, the cuts "will conclude as soon as possible.”
They will primarily affect Rogers’ conventional television, radio and publishing operations as well as back-office roles, Ms. Goldstein said. She added in a separate e-mail that “today’s announcement impacts all areas of Rogers Media, except for the Toronto Blue Jays.”
Rogers Media operates 24 TV stations, 52 radio stations, 57 publications and 93 websites across Canada – the division’s owner, Rogers Communications, is set to report its fourth-quarter earnings tomorrow.
While unwelcome, the news likely comes as no surprise, with Canadian broadcasting and print media industries suffering numerous waves of job losses over the past year.
More like this:
This loophole could make it legal for employees to watch porn at work
Yahoo tells execs: Please don’t leave – we’ll pay you!
HR is “off target” when managing mature workers