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Canwest eliminates morning and noon TV newscasts at Global Toronto
Thursday January 22nd 2009TORONTO — Global TV’s Toronto station is eliminating its noon newscast, resulting in an unspecified number of layoffs, Canwest Global Communications Corp. said Tuesday.
Canwest spokesman John Douglas said fewer than 40 employees will be affected, but declined to give a specific number.
He said Canwest decided in November that it would eliminate Global Toronto’s morning newscast, and in the process of reviewing the station’s operations decided to cancel the lunchtime newscast as well.
“What we have done is in looking at all that, we’ve gone one step further to reduce that shift out,” Douglas said.
Canada’s largest media company said in November it would slash five per cent of its Canadian workforce, or 560 jobs, as it struggles to deal with slumping advertising revenue, brutal economic conditions and fierce competition.
Those layoffs included 210 positions at Global and Canwest’s other television operations. Tuesday’s layoffs are in addition to that number, Douglas said.
They follow cutbacks at many of Canada’s major media operations, including 105 layoffs at broadcaster CTV and 600 at Quebecor-owned Sun Media, Canada’s largest newspaper publisher.
The Globe and Mail said earlier this month it plans to cut 10 per cent of its workforce – or approximately 80 jobs – in an effort to reduce costs.
Meanwhile, reports Tuesday said Rogers Publishing has asked all full-time staff with its more than 70 publications to take a voluntary 20 per cent pay cut by reducing their work week from five days to four.
Rogers Publishing, owned by Rogers Communications Inc. (TSX:RCI.B), owns some of Canada’s most popular magazines, including Maclean’s and Chatelaine.
Rogers said in December it will lay off an unspecified number of employees in its media division as it copes with a decline in advertising revenue.
Canwest said earlier this month its advertising sales have been eroded by the deteriorating economy, and reported a $33-million quarterly loss, or 18 cents per share, reversing a year-earlier profit of $41 million or 23 cents per share.
Revenue was $886 million, up two per cent from $867 million.
Canwest shares were down three cents, or 5.8 per cent, to 49 cents in Tuesday trading on the Toronto Stock Exchange.
Source: The Canadian Press
Headline, Industry News
Canwest eliminates morning and noon TV newscasts at Global Toronto
Thursday January 22nd 2009TORONTO — Global TV’s Toronto station is eliminating its noon newscast, resulting in an unspecified number of layoffs, Canwest Global Communications Corp. said Tuesday.
Canwest spokesman John Douglas said fewer than 40 employees will be affected, but declined to give a specific number.
He said Canwest decided in November that it would eliminate Global Toronto’s morning newscast, and in the process of reviewing the station’s operations decided to cancel the lunchtime newscast as well.
“What we have done is in looking at all that, we’ve gone one step further to reduce that shift out,” Douglas said.
Canada’s largest media company said in November it would slash five per cent of its Canadian workforce, or 560 jobs, as it struggles to deal with slumping advertising revenue, brutal economic conditions and fierce competition.
Those layoffs included 210 positions at Global and Canwest’s other television operations. Tuesday’s layoffs are in addition to that number, Douglas said.
They follow cutbacks at many of Canada’s major media operations, including 105 layoffs at broadcaster CTV and 600 at Quebecor-owned Sun Media, Canada’s largest newspaper publisher.
The Globe and Mail said earlier this month it plans to cut 10 per cent of its workforce – or approximately 80 jobs – in an effort to reduce costs.
Meanwhile, reports Tuesday said Rogers Publishing has asked all full-time staff with its more than 70 publications to take a voluntary 20 per cent pay cut by reducing their work week from five days to four.
Rogers Publishing, owned by Rogers Communications Inc. (TSX:RCI.B), owns some of Canada’s most popular magazines, including Maclean’s and Chatelaine.
Rogers said in December it will lay off an unspecified number of employees in its media division as it copes with a decline in advertising revenue.
Canwest said earlier this month its advertising sales have been eroded by the deteriorating economy, and reported a $33-million quarterly loss, or 18 cents per share, reversing a year-earlier profit of $41 million or 23 cents per share.
Revenue was $886 million, up two per cent from $867 million.
Canwest shares were down three cents, or 5.8 per cent, to 49 cents in Tuesday trading on the Toronto Stock Exchange.
Source: The Canadian Press
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Headline, Industry News
Canwest eliminates morning and noon TV newscasts at Global Toronto
Thursday January 22nd 2009TORONTO — Global TV’s Toronto station is eliminating its noon newscast, resulting in an unspecified number of layoffs, Canwest Global Communications Corp. said Tuesday.
Canwest spokesman John Douglas said fewer than 40 employees will be affected, but declined to give a specific number.
He said Canwest decided in November that it would eliminate Global Toronto’s morning newscast, and in the process of reviewing the station’s operations decided to cancel the lunchtime newscast as well.
“What we have done is in looking at all that, we’ve gone one step further to reduce that shift out,” Douglas said.
Canada’s largest media company said in November it would slash five per cent of its Canadian workforce, or 560 jobs, as it struggles to deal with slumping advertising revenue, brutal economic conditions and fierce competition.
Those layoffs included 210 positions at Global and Canwest’s other television operations. Tuesday’s layoffs are in addition to that number, Douglas said.
They follow cutbacks at many of Canada’s major media operations, including 105 layoffs at broadcaster CTV and 600 at Quebecor-owned Sun Media, Canada’s largest newspaper publisher.
The Globe and Mail said earlier this month it plans to cut 10 per cent of its workforce – or approximately 80 jobs – in an effort to reduce costs.
Meanwhile, reports Tuesday said Rogers Publishing has asked all full-time staff with its more than 70 publications to take a voluntary 20 per cent pay cut by reducing their work week from five days to four.
Rogers Publishing, owned by Rogers Communications Inc. (TSX:RCI.B), owns some of Canada’s most popular magazines, including Maclean’s and Chatelaine.
Rogers said in December it will lay off an unspecified number of employees in its media division as it copes with a decline in advertising revenue.
Canwest said earlier this month its advertising sales have been eroded by the deteriorating economy, and reported a $33-million quarterly loss, or 18 cents per share, reversing a year-earlier profit of $41 million or 23 cents per share.
Revenue was $886 million, up two per cent from $867 million.
Canwest shares were down three cents, or 5.8 per cent, to 49 cents in Tuesday trading on the Toronto Stock Exchange.
Source: The Canadian Press
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