TVA Group announces restructuring and layoffs of more than 500 employees

MONTREAL – TVA Group announced Thursday the layoff of 547 employees, or 31 per cent of its workforce, as part of a restructuring that includes the overhaul of its news division, the end of its in-house entertainment content production activities and the optimization of its real estate holdings.

Pierre Karl Peladeau, CEO of Quebecor Inc., which owns TVA, says the subsidiary’s deficit is no longer sustainable.

He says the company aims to refocus its activities, reduce operating costs and continue to offer original Quebec content.

The 63-year-old company attributes its financial strain to the proliferation of streaming services and the shift of advertising spending to web giants rather than legacy media.

TVA also took a shot at social media platforms for benefiting from links to news stories without paying for content and at CBC/Radio-Canada, which it deemed unfair competition.

After announcing the elimination of 140 positions in February, TVA Group unveiled new cuts. Among the 547 employees being laid off are 300 in in-house production, 98 linked to the operations of TVA’s regional stations, and 149 in other sectors.

Those affected will receive at least 16 weeks’ notice, the Group said in a press release.

The company is also ending in-house production of its entertainment programs. Le Tricheur, La Poule aux oeufs d’or and VLOG will remain on TVA’s airwaves, but will now be produced by outside producers.

Only Salut Bonjour and Salut Bonjour Week-end morning shows, newscasts, TVA and LCN news content, and certain TVA Sports programs will continue to be produced in-house.

TVA Group also announced on Thursday that it is optimizing its real estate holdings. The company says it is “considering the next vocation of its head office building at 1600 boulevard de Maisonneuve Est”, and wants to concentrate its activities in the building at 4545 rue Frontenac, in Montreal.

“Management wishes to initiate discussions with Montreal municipal authorities and the Quebec government, in view of the housing shortage, on the possibility of converting the building into social housing,” reads the press release issued by the group on Thursday afternoon.

The Frontenac Street building will house Québecor’s media and TVA Publications’ magazine teams.

“Management wishes to initiate discussions with Montreal municipal authorities and the Quebec government, in view of the housing shortage, on the possibility of converting the building into social housing,” reads the press release issued by the group on Thursday afternoon.

The Frontenac Street building will house Québecor’s media and TVA Publications’ magazine teams.

TVA Group has also announced that TVA Québec will now record newscasts for all regional stations.

Although the company says it will “proceed with a reduction of its real estate in the regions”, it assures us that TVA’s antennas in Eastern Quebec, Saguenay-Lac-Saint-Jean, Sherbrooke and Trois-Rivières will be maintained.

TVA Group also states that it has set up a transition committee to support employees during this period of restructuring.

This report by The Canadian Press was first published in French on Nov. 2, 2023, and translated by CityNews.