FLASH: Layoffs at CTV
Over 100 jobs were axed today due to falling ad revenues.
CTV cut 105 jobs at its Toronto operations on Thursday as the industry cull continues. CTV spokeswoman Bonnie Brownlee said the ax fell hardest at the network’s Queen Street headquarters, while a few jobs will go at its Agincourt site.
Brownlee said that over the past year, Brad Schwartz, SVP and GM of music and youth services at CTV, integrated MTV with MuchMusic, MuchMoreMusic and other channels for cost efficiencies. She added that the job cuts were also related to CTVglobemedia president and CEO Ivan Fecan telling staff last week that collapsed advertising revenues and a tough economy meant cost-cutting and layoffs were on the way.
CTVgm currently has around 6,000 employees.
In an internal memo on Thursday, Dawn Fell, CTVgm EVP of human resources, said collective agreements at the former CHUM channels on Queen Street allow for bumping, which will take place next week. Fell added that decisions on which employees will be cut were made by managers of the affected channels, and that ‘no further reductions will be taken for the balance of the year.’
Further dismissal notices at CTV in 2009 remain possible as network managers identify additional cost efficiencies. The former CHUM network cut 281 jobs in July 2006, just before it received a friendly takeover offer from CTVgm.
Two weeks ago, rival Canwest Global Communications said it will cut 210 broadcast jobs to fend off falling advertising revenue, and last week the CBC cited hard times as grounds to impose a freeze on hiring and discretionary spending.
From Playback Daily