TORONTO – CTV announced 105 job cuts today, most of them in Toronto, and many of those are reportedly coming from the 299 Queen St. W. location.
The announcement follows a memo to staff from CEO Ivan Fecan last week warning that falling advertising revenues would result in layoffs and a hiring freeze.
A company statement from EVP human resources Dawn Fell said that no further staff reductions would be made for the balance this year.
However, CTV should be making commitments to the employees losing their jobs that employment will return when times are better, says Canada’s largest media union in their own release on the cutbacks.
"Media corporations and others should have firm obligations to their employees that if they are victims when times are tough, they will be sharing in the opportunities when times improve," says Peter Murdoch, vice-president of media for the Communications, Energy and Paperworkers Union of Canada.
Murdoch also insinuated that some of the CTV layoffs could be due to on-going restructuring as a result of CTV’s purchase of CHUM, and simply being blamed on the declining economy.
This follows Canwest’s slicing of 210 positions from the broadcast payroll and CBC’s recent announcement that it is taking a closer look at its costs, too. Both of those broadcasters also blame the economy for the changes.
