President and Chief Executive Officer of TVA Group Inc., Pierre Dion listens during the company's annual general meeting in Montreal, May 10, 2010.CHRISTINNE MUSCHI/Reuters
TVA Group Inc. plans to cut operating expenses and eliminate 90 jobs as it struggles with a tough advertising market.
The division of Quebecor Media Inc. said on Wednesday the job cuts represent 4.5 per cent of total staff.
The company, which operates the largest French-language television network in Canada, also said it will eliminate unfilled positions and phase out other jobs through attrition.
Montreal-based TVA Group said the current economic context remains challenging in terms of advertising revenue.
The plan is to cut 5 per cent from operating expenses, said TVA.
"In order to preserve its leadership position in Quebec, protect its content quality, and maintain its investments, the TVA Group has an obligation to reduce its operating expenses," TVA Group president and chief executive officer Pierre Dion said in a news release.
"Unfortunately, this decision implies – among other things – a reduction in personnel. Given the upheavals that continue to affect the media industry, this type of rationalization plan is now inevitable."
Among TVA Group's assets are the over-the-air TVA network, a French-language sports channel, and magazines and newspapers.
Bertrand Marotte