CTV cutting back: Freezes hiring, spending - and it blames CRTC, too

TORONTO – Saying the global financial situation is “causing sharp decreases in advertising spending and even the potential bankruptcy of some of our single biggest customers,” CTV told employees yesterday that the company is tightening its belt. A memo from CEO Ivan Fecan announced a country-wide hiring freeze as well as a halt to travel and entertainment spending. “New projects, unspent capital plans will be revised, delayed or halted,” said the memo. The company hosted a town hall meeting this afternoon to address employee concerns. Layoffs are coming, said Fecan’s memo, but it has yet to be decided where. This...