TV Producer Cinar Cuts 54 Jobs, Hires Auditors
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Cinar Corp., a children’s television producer that has been plagued by a string of financial scandals, said it had cut 54 staff and appointed new auditors.
The Montreal-based firm said the cuts were in its corporate offices and entertainment division, reducing its staff in the city from 164 to 110.
Nasdaq delisted Cinar shares last year after the firm’s founders resigned over a tax fraud scandal and the unauthorized investment of $122 million of the company’s funds in an offshore management company.
The company said it hoped to solidify the position of its two main productions, the Emmy-winning “Arthur” and “Caillou,” for which it said demand remains strong, as well as building its education and licensing businesses.
The company appointed Richter, Usher & Vineberg as auditors.
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