- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Canada’s Quebecor Media Group will cut around 220 jobs as part of cost-cutting due to “ongoing disruption” from Netflix Canada and other U.S. media giants moving north of the border, it was announced Wednesday.
Around 125 of those jobs are at TVA Group, Quebec’s private French-language broadcaster. Plans to chop around 8 percent of the Quebecor Media workforce follows the Montreal-based company and other Canadian media giants facing increased competition from Netflix and other U.S. media groups.
“In Quebec, as elsewhere in the world, our industry is facing ongoing disruption,” Julie Tremblay, president and CEO of Quebecor Media Group and TVA Group, said in a statement. Quebecor Media, which also runs Quebec’s largest cable TV provider, was among the first Canadian media groups to unbundle its cable channels for consumers to discourage cord-cutting.
But that effort wasn’t enough as Netflix, which launched in Canada in late 2010, now has over 5 million subscribers in the country for its video streaming service. That dominance comes as Canada gets set to introduce full a la carte cable and satellite TV in December.
“Today it is clear that we must continue our transformation in order to further adjust structural costs and become more agile,” said Tremblay.
Besides competition from Netflix Canada, Amazon is expected to shortly launch in the country as upstart local streaming service Shomi gets set to shut down on Nov. 30.
Sign up for THR news straight to your inbox every day