CBC to Cut 657 Jobs Over Two Years
The job losses come during the latest round of cost-cutting at the Canadian pubcaster as it deals with lower government subsidies and the loss of NHL game revenues.
TORONTO – Faced with less government funding and no more NHL game revenue from next season, the Canadian Broadcasting Corp. on Thursday said it is cutting 657 jobs over two years and getting out of the competition for rights to professional sports.
The latest job cuts at the unionized pubcaster come as the CBC looks to cut $130 million from its operating budget.
"Today, we have made the tough decisions to balance our current budget," CBC president Hubert Lacroix said in a statement.
That includes the pubcaster airing fewer pro sporting events and reducing its coverage of amateur sports.
The pubcaster is dealing with the upcoming loss of revenue from Hockey Night in Canada telecasts after rival Rogers Media picked up the national NHL TV rights for $5.2 billion (US$4.9 billion) over 12 years, from next season.
The CBC has also taken an advertising revenue hit from poorly performing primetime shows in the 25-54 demo.
The Canadian broadcaster is also having to do without $115 million in federal government subsidies eliminated over the last three years, cuts that led to earlier rounds of job and programming cuts.