Current:Home > StocksCanada’s public broadcaster to cut 600 jobs as it struggles with budget pressures -Pinnacle Profit Strategies
Canada’s public broadcaster to cut 600 jobs as it struggles with budget pressures
View
Date:2025-04-19 20:00:27
TORONTO (AP) — Canada’s public broadcaster announced on Wednesday that it will cut 600 jobs and reduce its English and French programming budgets as it struggles with monetary pressures.
The Canadian Broadcasting Corp. and Radio-Canada, the French-language version, said the bulk of the layoffs will come from its corporate divisions such as technology and infrastructure. It also identified 200 vacancies that will go unfilled as it contends with 125 million Canadian dollars ($92 million) in budget pressures.
Along with the job cuts, CBC will be reducing its English and French programming budgets, resulting in fewer renewals and acquisitions, fewer new television series, less episodes of existing shows and digital original series.
The federal government provides CBC with over 1.2 billion Canadian dollars ($890 billion) in funding per year, or about 71% of CBC’s/Radio Canada’s source of funds last year. It attributed the cuts to rising production costs, declining television advertising revenue and fierce competition from the tech digital giants.
At the end of March, CBC had some 6,500 permanent employees, about 2,000 temporary workers and roughly 760 contract staff.
The cuts come days after the federal Liberal government suggested it may cap the amount of money CBC and Radio-Canada could get under a 100 million Canadian dollars ($74 million) deal that Ottawa recently signed with Google.
Canada’s government said it reached a deal with Google last month for the company to contribute the 100 million Canadian dollars annually to the country’s news industry to comply with a new law requiring tech companies to pay publishers for their content.
veryGood! (1)
Related
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- At least 22 people, including children, killed in India boat accident
- 'The Callisto Protocol' Review: Guts, Death, and Robots
- Autopsies on corpses linked to Kenya starvation cult reveal missing organs; 133 confirmed dead
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Transcript: Sen. Kyrsten Sinema on Face the Nation, May 7, 2023
- Elon Musk says Ye is suspended from Twitter
- Elizabeth Holmes sentenced to 11 years in prison for Theranos fraud
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- How Twitter became one of the world's preferred platforms for sharing ideas
Ranking
- What do we know about the mysterious drones reported flying over New Jersey?
- Meet The Everyday Crypto Investors Caught Up In The FTX Implosion
- Elon Musk said Twitter wouldn't become a 'hellscape.' It's already changing
- The Bachelor: How Zach's No Sex Fantasy Suites Week Threw Things Into Chaos
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Elon Musk says Twitter restored Ye's account without his knowledge before acquisition
- How the cookie became a monster
- Elon Musk suggests his SpaceX company will keep funding satellites in Ukraine
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
Gisele Bündchen Addresses Very Hurtful Assumptions About Tom Brady Divorce
Aries Shoppable Horoscope: 10 Birthday Gifts Aries Will Love Even More Than Impulsive Decision-Making
Election software CEO is charged with allegedly giving Chinese contractors data access
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
How likely is a complete Twitter meltdown?
Israel strikes Gaza homes of Palestinian Islamic Jihad militants, killing commanders and their children
Just 13 Products to Help You Get Your Day Started if You Struggle to Get Up in the Morning