CBC plans to chop 650 jobs, put ads on CBC Radio 2 due to budget cuts
The Canadian Broadcasting Corporation has announced it plans to eliminate 650 jobs over three years in response to the10 percent funding cut in the federal budget.
475 of those jobs will be eliminated during the current fiscal year, according to a post on the CBC News website.
The public broadcaster also said today (April 4) it has applied to the Canadian Radio-television and Telecommunications Commission to add advertising and sponsorships to CBC Radio 2 and Espace musique, its two national music radio networks.
According to CBC president and CEO Hubert T. Lacroix, when the $115 million in cuts are combined with cost increases and investments, the CBC has "financial pressures" of $200 million.
“We expect to be able to offset that with $50 million in new revenues, which leaves us with about $150 million to account for by way of reductions and operating improvements," Lacroix said in a statement.