Groupe TVA Cuts 87 Jobs Across Quebec
Groupe TVA has announced the elimination of 87 jobs in its broadcasting operations across various locations in Quebec. This decision stems from the company’s deteriorating financial situation, marked by cumulative net losses exceeding CAD 93 million since January 2022.
Financial Challenges and Job Cuts at Groupe TVA
The company attributes these losses primarily to a decline in advertising revenue. Additionally, it cites a lack of governmental support for the private television sector as a contributing factor. Despite repeated calls for solutions, Groupe TVA’s interim president, Pierre Karl Péladeau, insists that government and regulatory action is essential for the industry’s sustainability.
- Job Cuts: 87 positions eliminated in broadcasting operations.
- Financial Losses: Over CAD 93 million in net losses since January 2022.
- Government Support: Insufficient aid for the private television sector.
Response from Management
Louis-Philippe Neveu, vice-president of Operations, Information, and Sports at Groupe TVA, acknowledged the difficult nature of these decisions. He emphasized that the precarious state of the industry necessitates tough choices, which unfortunately impact employees.
Location of Job Cuts
The job reductions will affect both unionized and non-unionized employees in various cities, including:
- Montréal
- Trois-Rivières
- Sherbrooke
- Saguenay
- Rimouski
Context of the Cuts
This announcement follows a previous reduction of approximately 30 positions in May within the television sector. Since January 2023, Groupe TVA has undergone two major restructuring efforts, resulting in nearly 800 job losses.
In the recent budget presented by the Carney government on November 4, significant commitments and tax credits essential to support the private television industry were notably absent. Although the federal government announced a CAD 150 million investment in CBC/Radio-Canada, this move has faced criticism from Quebecor and Cogeco Media.
As the situation evolves, the need for a revitalized television ecosystem remains urgent for the survival of companies like Groupe TVA.
