"The Canadian Broadcasting Corp. plans to cut up to 800 jobs to make up for a $171 million shortfall in 2009-10. CBC president and chief executive Hubert Lacroix announced the layoffs Wednesday in a broadcast to employees. He said the public broadcaster also needs to sell $125 million worth of assets to make up the shortfall in operating costs."
The CBC reported on its own situation today online at cbcnews.ca.
I'm a big fan of CBC, whether it's Peter Mansbridge on The Hour, The Hour with George Stroumboulopoulos or Vancouver at Six featuring Gloria Macarenko and Ian Hanomansing.
Here's hoping the Canadian company gets back on track and this is as bad as it gets.