Layoffs, a hiring freeze and revisions or delays of new projects are in the cards at Canadian broadcaster CTV, according to a memo staff received Tuesday.
In the note, CTV CEO Ivan Fecan blamed both the global financial downturn and "the ongoing structural issues affecting conventional television" for the new operational plan.
Staff are slated to meet at a town hall with Fecan in Toronto on Wednesday to hear further details.
In the meantime, Fecan's message outlined several cost-cutting measures that were put into place Tuesday.
"Across all TV properties, there will be a hiring freeze," as well as a halt on travel and entertainment spending, he wrote.