The corporation will be eliminating 657 positions over the next two years.
Today, the CBC announced it would be cutting 657 full-time positions over the next two years in order to chop its 2014–15 budget by $130 million.
It gave various reasons for the move: a soft ad market, lower-than-expected ad revenues from some CBC programs, and, perhaps most importantly, the loss of exclusive NHL coverage thanks to a $5.2-billion bid from Rogers Communications. CBC’s president and CEO Hubert Lacroix says the CBC will to have to “re-imagine itself” in today’s changing media environment to stay afloat.
Although the corporation will no longer compete for any private sports coverage, it will still air NHL games on Saturday nights and during playoff season—and it is still committed to covering national events like the Olympics.
This fiscal year, 573 of the 657 positions will be cut.