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Quebec's TVA Lays Off More Than 500 Employees
It hasn't attracted a lot of attention here, primarily because TVA, the French network owned by Quebecor, is mostly seen only in La Belle Province. On Thursday, it laid off 547 people, or 31% of its workforce. Like many of its counterparts in Canada, the company cites changes in the industry - primarily streaming - and a loss of advertising to the web in forcing the cutbacks.
That is a huge reduction for an entity that's primarily viewed in only one province. But Quebecor insists it will continue to serve a French audience, despite the reduction in its workforce.
TVA Group lays off more than 500 employees as audiences and ad revenues shrink
- RadioAaron
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Re: Quebec's TVA Lays Off More Than 500 Employees
This sucks.
And in a TV market where domestic product rates better than in the rest of the country, for obvious reasons....
Speaks to the fundamental challenges facing the business, regardless of who's running it.
- paterson1
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Re: Quebec's TVA Lays Off More Than 500 Employees
TVA has a major competitor with Radio Canada. Unlike CBC TV, Radio Canada is very popular in Quebec Radio Canada is somewhat more mass appeal than CBC and does compete directly with the private networks.
TVA (Quebecor) CEO Pierre Peladeau has long complained about Radio Canada's unfair advantage and their aggressive sales tactics attracting advertisers. I didn't know that Canada's number one morning show is TVA's Salut Bonjour! which has been on for many years.
More background on the cuts from Quebecor....Note some interesting information near the end of the press release regarding revenues and cable....
- Bristol
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Re: Quebec's TVA Lays Off More Than 500 Employees
TVA cuts 31% of its workforce and makes major internal changes to move forward. This is a bellwether case.
TVA is a serious player in Quebec head-to-head with the CBC ( Radio-Canada) which is way better than the Anglo side, and Bell ( no comment).
Péladeau is no man’s fool and a strong leader with vision. All this talk of relief from the manna of C11 & C18 are never going to save this industry.
This is global ( no pun intended) issue. Reorganize and find another way to do business. He not being busy reinventing is busy dying.