Quebec media giant TVA lays off more than 500 employees, almost a third of its workforce
CBC
One of Quebec's media giants announced Thursday that it is laying off roughly one-third of its workforce as of February.
TVA, owned by Quebecor, said it will slash 547 jobs, including 300 positions in in-house production, 98 operations positions and 149 positions in other departments.
Pierre Karl Péladeau, acting president and CEO of TVA Group and the president and CEO of Quebecor, said entertainment series like Le Tricheur, La Poule aux œufs d'or and VLOG, will still run on TVA's airwaves but production will be outsourced.
Regional news will be broadcast out of Quebec City.
TVA said a complete reorganization of its resources is necessary because of the rapidly shifting media landscape, the popularity of streaming services and losses in web advertising revenue. The broadcaster says it lost $13 million this year, compared with $1.6 million last year.
"TVA will not disappear," said Péladeau at a news conference Thursday.
"We want to continue to offer quality programming... that will bring in advertising revenue."
The media giant said it will refocus its mission exclusively on broadcasting — effectively ending in-house production of entertainment content, centralizing its news division and reducing its real estate.
Péladeau suggested TVA's building at 1600 De Maisonneuve Blvd. in Montreal could be turned into social housing.
"The traditional television business model has been disrupted on all sides: shrinking audiences, declining subscriptions, falling advertising revenues, fierce competition and aggressive bidding for entertainment content and sports rights," said TVA in a news release.
It also said those problems are compounded by CBC/Radio-Canada unfairly competing with private broadcasters for advertising revenue.
TVA had already cut 140 professional and managerial positions in February 2023 and had cancelled some of its programing, but today said those measures weren't enough to stay afloat.
"The deficit TVA Group is currently running is simply no longer sustainable," said Péladeau.
"We have a responsibility to correct the situation. TVA has historically been an important vehicle for Quebec culture, language and news. We have a duty to preserve it and ensure its sustainability."
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