A Quebec media big introduced Thursday that it’s going to lay off almost a 3rd of its workforce beginning in February.
TVA, which is owned by Quebecor, mentioned it might lower 547 jobs, together with 300 in inside manufacturing, 98 operations and 149 in different departments.
TVA mentioned an entire realignment of its sources is important because of the quickly altering media panorama, the recognition of streaming providers, and losses in internet marketing income. The radio says it misplaced $13 million this yr, in comparison with $1.6 million final yr.
The media big mentioned it is going to refocus its mission completely on broadcasting, successfully ending in-house manufacturing of leisure content material, centralizing its information division and shrinking its actual property.
“The normal TV enterprise mannequin has been disrupted on all sides: shrinking audiences, declining subscriptions, declining promoting revenues, fierce competitors, and aggressive bidding for leisure content material and sports activities rights,” she mentioned in a press launch.
She additionally mentioned these issues are exacerbated by CBC and Radio-Canada’s unfair competitors with non-public broadcast stations for promoting revenues.
TVA had already lower 140 skilled and managerial jobs in February 2023 and canceled a few of its programmes, however mentioned right now that these measures weren’t sufficient to remain afloat.
“The deficit that the TVA Group is presently operating is not sustainable,” Pierre-Carl Péladeau, appearing president and CEO of TVA Group and president and CEO of Quebecor, mentioned in a press launch.
“We’ve got a duty to rectify the scenario. The TVA has traditionally been an vital car for Quebec’s tradition, language and information. We’ve got an obligation to protect it and guarantee its sustainability.”