TVA Eliminates 87 Jobs
Groupe TVA recently announced it would eliminate 87 jobs, affecting various positions across its regional stations. This marks another round of job cuts, with an emphasis on roles such as cameramen, technicians, hairdressers, and makeup artists.
Details on Job Cuts
The reduction of positions will take effect starting January 12, with each regional station in Saguenay, Trois-Rivières, Sherbrooke, and Rimouski losing most of their remaining cameramen. The cuts are a continuation of a trend, with regional stations already reporting significant losses in staff over the past two years.
Impact on Regional Journalism
- Regional news coverage is expected to suffer as journalists will now be required to film their own footage.
- This change introduces challenges to maintaining the quality of local news amidst an already strained workforce.
Historical Context
Groupe TVA previously faced layoffs two years ago when 547 positions were cut, representing about a third of the workforce. According to union reports, regions have seen a reduction of 70 to 80% of their staff since then. Overall, nearly 800 positions have been eliminated in broadcast media this year, with the current workforce dropping below 500 employees.
Financial Struggles
The company cited declining advertising revenues as a reason for the job cuts. Cumulative losses have surpassed 93 million dollars since January 2022. In a statement, TVA acknowledged that their restructuring efforts only partially address the ongoing decline in revenue affecting the entire industry.
Stakeholder Reactions
Pierre Karl Péladeau, CEO of Québecor, criticized the federal government’s lack of support for private broadcasters. He emphasized the disparity in financial aid compared to public broadcasters, who received an extra 150 million dollars in the latest federal budget. There are calls for extending tax credits to electronic media similar to those granted to print outlets.
Eric-Pierre Champagne, President of the Quebec Professional Journalists Federation, expressed concern over the significant job cuts. He highlighted the potential for reduced quality in regional news coverage and pointed to the challenge posed by false media outlets using AI-generated content without real journalistic input.
Government Response
Mathieu Lacombe, Quebec’s Minister of Culture and Communications, described the job cuts at TVA as indicative of broader issues in the media landscape. He acknowledged the need for rethinking financial support for electronic media at both the provincial and federal levels.
Market Reaction
Amid these developments, TVA’s stock rose by 16% to 64 cents during a low trading volume, valuing the media subsidiary at approximately 28 million dollars.
Groupe TVA continues to operate not only in broadcasting but also in magazine publishing and film production through its MELS studios.
