Montreal:
Canada’s public broadcaster on Monday introduced it could reduce 600 jobs, or 10 % of its workforce, because it confronts monetary challenges sparked by a drop in tv advert revenues and competitors from digital information retailers.
The Canadian Broadcasting Company (CBC) mentioned the primary job cuts would come shortly however that almost all would take impact over the following 12 months.
“CBC/Radio-Canada is not immune to the upheaval facing the Canadian media industry,” president and CEO Catherine Tait mentioned in a press release.
“We’ve successfully managed serious structural declines in our business for many years, but we no longer have the flexibility to do so without reductions.”
A complete of 250 jobs might be slashed at CBC, the group’s English-language community, and one other 250 at French-language Radio- Canada, with technicians and different assist employees making up the ultimate 100 jobs to be slashed.
A further 200 vacant positions might be eradicated, it mentioned in a press release.
The general public broadcaster “will also be reducing its English and French programming budgets for the next fiscal year,” it mentioned.
“This will result in reduced renewals and acquisitions, fewer new television series and episodes of existing shows, as well as fewer digital original series.”
That can enable the corporate to make up a CAN$125 million (US$92.3 million) finances shortfall.
Radio-Canada’s employees’ union known as it a “dark day” for the broadcaster and for entry to info.
– Troublesome media local weather –
CBC has been notably laborious hit by the drop in tv promoting revenues.
In early October, CBC introduced that job creation was frozen till additional discover, and that those that left the corporate wouldn’t get replaced.
“We understand how concerning this is to the people affected and to the Canadians who depend on our programs and services,” Tait mentioned.
“We will have more details in the months ahead, but we are doing everything we can to minimize the impact of these measures.”
Many media retailers in Canada — as in different elements of the world — are at the moment in dire monetary straits, and the general public broadcaster isn’t the primary to announce a redundancy plan.
After months of negotiations, Canada and Google struck a deal final week for the tech big to pay compensation to Canadian media corporations in change for the distribution of their content material.
Google will present monetary assist of $100 million a yr, listed to inflation.
CBC has not seen related finances cuts since Prime Minister Justin Trudeau took workplace in 2015.
(Aside from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)