The Globe and Mail reports in its Friday edition that Corus Entertainment cut 7 per cent of its employee costs in the latest quarter due to a decline in advertising revenue. A Canadian Press dispatch to The Globe reports that it posted a total of $10-million in cost savings, part of a 9-per-cent cut in general and administrative expenses during the third quarter. Corus expects to reduce these expenses by 10 per cent to 15 per cent in the fourth quarter compared with the previous year. Chief executive officer John Gossling said on Corus's third quarter earnings call, "The advertising environment remains very challenging, characterized by ongoing uncertainty in the economic environment, an oversupply of digital inventory from foreign competitors, and generally, lower advertising demand on linear television." Corus anticipates TV advertising revenue to decline about 20 per cent year-over-year in the fourth quarter as "geopolitical and economic uncertainty" linger. Mr. Gossling called Corus's revenue outlook "quite stressed." He said companies are making advertising investment decisions closer to campaign launches or pausing them altogether as they await clarity on supply chain disruptions or consumer confidence impacts.