The Canadian Broadcasting Corp. (CBC) is cutting jobs as part of a nationwide restructuring.
CBC said it is laying off 130 people as part of an effort to resize the business were necessary due to higher costs and lower revenue. CBC entered the current fiscal year with a $21-million deficit due to lower advertising and subscription revenues. And that was before COVID-19 wreaked havoc on its business.
CBC said most of the layoffs have been dealt with through retirements and attrition. However, 58 positions in the news, current affairs and local news divisions are being eliminated. A total of 10 non-unionized managerial positions in the news division were cut by the broadcaster.
While five CBC locations across the country have been impacted by the restructuring, most of the job cuts are to positions based in Toronto.
"Every year, our costs go up as revenue generation in traditional media goes in the other direction and, not surprisingly, we have seen that even more acutely this fiscal with the global pandemic," said CBC in a written statement.
