The Canadian Broadcasting Corporation (CBC) is expected to cut 800 jobs based on a report that was released yesterday. The publically owned operator of national television and radio networks is expect to make these cuts in an effort to help fight a funding shortfall caused by a sharp advertising downturn.
CDC currently receives $1 Billion a year in funding from the Federal Government while also generating $600 million from commercial activities and $340 million from advertising. The Government of Canada says that it expects CBC to follow a path similar to two of CBC’s private sector competitors in hopes of cutting jobs to increase cash flow.
CTV has cut 225 jobs since November 2008 while Canwest Global Communications Corp has cut 560 jobs. Canwest is looking at selling some TV stations while CTV has announced it will shut down two stations.
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http://ca.news.finance.yahoo.com/s/25032009/6/finance-cbc-slash-800-jobs.html
Tom Sweeney 