Declining revenue and competition, Canadian radio announces 600 layoffs
Canadian radio has announced 10 per cent layoffs in a year amid financial challenges faced by declining advertising revenue and competition from digital news outlets.
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The French news organization quoted the statement of the president and CEO of the Canadian Broadcasting Corporation (CBC), Catherine Tate, that her organization is not immune from the difficulties faced by the domestic media industry. But now there is no choice but to reduce the number of employees.
Catherine Tate said that the plan is to lay off 600 employees a year, but the first phase is likely to be completed soon, 250 in the English-language network, 250 in the French language and technical and other support staff. 100 employees will be laid off. The reduction will save the CBC 125 million Canadian dollars (92.3 million US dollars).
