CBC to cut 657 jobs as $130 million slashed from its budget

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TORONTO – The CBC is eliminating 657 positions over two years to cope with a massive budget shortfall totalling $130 million.

CBC to cut 657 jobs as $130 million slashed from its budget

“Today, we have made the tough decisions necessary to balance our current budget” said Hubert T. Lacroix, President and CEO of CBC/Radio-Canada. “As the media landscape changes, CBC/Radio-Canada will also need to re-imagine itself in order to continue delivering on the mandate with which we were entrusted over 75 years ago.”

CBC/Radio-Canada said they were faced with financial challenges ranging from an industry-wide softening of the advertising market, disappointing schedule performance in key demographics on CBC Television, much lower-than-expected ad revenues from Espace musique and CBC Radio 2, and the NHL’s decision to move to a single, exclusive broadcaster.

CBC recently lost the rights to 'Hockey Night in Canada' to Rogers.

These reductions are in addition to significant pressures already managed by the Corporation since 2008/2009, due in part to actions surrounding the Deficit Reduction Action Plan (DRAP) and the elimination of the Local Programming Improvement Fund (LPIF).

Read the full release here: CBC/Radio-Canada looks to the future as it makes tough choices to balance its budget

Organizations: CBC News, CBC/Radio-Canada, Rogers Media

Geographic location: Canada

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