CTV breaks news on job cuts today
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 19/11/2008 (6198 days ago), so information in it may no longer be current.
TORONTO — CTV, Canada’s largest private broadcaster, is set to announce layoffs and other cuts due to the current economic slowdown, chief executive Ivan Fecan said Tuesday in an internal memo.
In Winnipeg, staff at CKY TV fear the cuts could affect local operations.
Several major media companies in North America have recently chopped staff and written down the value of their businesses.
The stuttering economy has caused major advertisers to drastically curtail spending that is the media industry’s lifeblood.
In the memo, Fecan says the downturn could cause the potential bankruptcy of some of the CTV’s largest clients.
“This is one of the biggest challenges we’ve ever faced,” Fecan wrote.
The details of the coming measures will be delivered to employees at a meeting today in Toronto.
“After much careful and thoughtful consideration, we have concluded it is no longer possible to maintain the current status quo of our company’s operations,” Fecan wrote.
According to the memo, there will be a hiring freeze across all television properties, a “freeze on travel and entertainment spending,” while new projects will be delayed or halted.
“We have also asked each department head to identify efficiencies — unfortunately, this will result in some layoffs,” the memo reads.
The memo offered no details of how much money the cuts would save or how many people would be laid off.
A CTV spokesperson contacted Tuesday declined to comment.
The memo refers solely to operations at CTV Inc., which includes the CTV television network, as well as some specialty channels such as The Sports Network and the Business News Network.
The spending cuts will not affect other media properties at CTV’s owner CTVglobemedia, which include the Globe and Mail newspaper and several cable channels.
CTVglobemedia is privately held, and does not disclose financial results.
— Canwest News Service