The top-rated broadcaster in Canada has eliminated around 6 percent of its employee count in response to a worsening operating environment.
“The job reductions are consistent with but smaller than similar reductions announced by other leading technology and media companies across North America in recent months,” Bibic added of the latest job cuts that come on top of 210 employees that left the company in 2021.
Bell Media president Wade Oosterman in his own internal memo said the media player was facing “the ongoing migration of advertising revenue to foreign digital platforms” like Google and Facebook, and Canadians continued to migrate from traditional linear TV channels to digital streamers. As the digital age has allowed U.S. studio dramas and comedies that traditionally came to Canadians via local pay TV providers to now be streamed into homes via the Internet, Bell Media bet its future profits would come more from channel subscriptions than advertising, including for its local Crave streaming platform.
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