Cogeco lays off 130 from its media division

MONTREAL – Cogeco Inc. announced today it has temporarily laid off 130 employees in its media division thanks to advertising pullbacks due to the Covid-19 crisis. The company owns 23 radio stations in Quebec and Ontario, including the popular Rythme FM brand. The cutbacks make up around 20% of the division’s workforce. “This difficult decision was made in the context of an unprecedented economic crisis that is causing a meltdown of the advertising market which is the source of revenues for our stations,” said a company spokesperson to Cartt.ca. The crisis has not yet affected the company’s primary businesses, which...