One of Canada’s largest telecom companies is cutting 200 jobs, accounting for four per cent of its workforce, according to a memo to staff on Monday.
Rogers Media cited reasons including, “significant pressures from a softening advertising market, fierce competition from global players, and shifting audience consumption habits.”
The job cuts at Rogers Media across its TV, radio and publishing divisions will be made in February and follow similar workforce slashes at rival broadcasters Bell Media and Shaw Media. The industry-wide cull comes after the CRTC, the country’s TV regulator, ordered cable TV providers to let their customers pick and pay for cable and satellite TV channels after purchasing a basic package capped at $25 a month.
The cross-industry cost-cutting is also the latest sign of a broadcast sector feeling the strain of an advertising market downturn and audiences increasingly going online to view TV shows. To answer online competition, Rogers Media parent Rogers Communications and Vice Media plan to launch a new Canadian cable TV channel, Viceland, on Feb. 29.
Rogers Media’s TV properties include City network, OMNI and specialty sports channels. The Toronto-based company also operates 55 radio stations and publishes more than 50 magazines and trade publications including Canadian Business, Maclean’s and MoneySense. The Globe and Mail earlier reported the cuts.