MONTREAL — Canuck web CTV announced Thursday that it is cutting 150 positions, most from its stations in Ontario, in an effort to deal with revenue shortfalls due to soft ad sales.
CTV president Trina McQueen told Daily Variety that the job cuts are also designed to eliminate duplication of jobs caused by company’s rapid expansion over the past three years. The Toronto-based company has increased its workforce by 1,000 to 3,500 over that period, thanks to the acquisition of specialty channel operator NetStar, CKY Winnipeg and CFCF Montreal.
“Any rational company in these times has to make sure they don’t have duplication, that they have the right number of people to run the services,” said McQueen.
About 20% of the positions to be cut are already vacant because CTV imposed a hiring freeze this summer. Ten more positions will come from early retirements and the remaining 110 are layoffs. There will be no impact on national programming, but a number of regional shows have been axed.
CTV owns 27 stations across Canada and has interests in 33 specialty channels, including the Sports Network and Discovery Channel Canada. McQueen said ad sales have been stronger this year for the specialty webs than for the main CTV network.
CTV is owned by Bell Globemedia, which owns national newspaper the Globe and Mail.