As Canwest Global Communications scrambles to service its growing debt load, employees at its Australian broadcaster Network TEN have been asked to shorten their work week to cut costs.
In an internal memo from CEO Grant Blackley, the private network’s employees were offered ‘the opportunity to reduce the number of days you work per week or fortnight, or the number of hours you work each day. Your remuneration will be pro-rated accordingly.’ Network TEN, like Canadian broadcasters, has been hit by a fall in advertising.
Employees with more than 20 days of annual leave were also told to take the time off ‘without delay.’
The cost-cutting arrives as speculation grows that Canwest may have to put its 56% stake in Network TEN up for sale to raise cash.
Also Wednesday, it was revealed that CTVglobemedia has handed out 48 pink slips to A Channel employees in London, Ontario, which include layoffs at the As in Windsor and Wingham. The London station oversees operations at the two, smaller outlets, which are due to be shut down.
Another 35 jobs went at its Ottawa A Channel newsroom, and 18 more were cut at the A Channel station in Barrie. Also gone were 17 jobs in Victoria.
Some newscasts on A Channels are also to be cancelled to save cash.
CTVgm on Tuesday said it will cut in all 118 jobs at A Channel newsrooms countrywide to end losses at the conventional TV stations.
The broadcaster announced its latest job cuts after it revealed last week that its conventional TV business will likely sustain losses in 2009 as advertisers spend fewer dollars during the recession.