CBC announces 657 jobs cuts

TORONTO — The Canadian Broadcasting Corporation said it is slashing 657 positions over two years to cope with a massive budget shortfall.

CBC News president Hubert Lacroix said Thursday that the cuts to its budget amount to $119 million.

The belt-tightening includes less sports coverage. The network said it will no longer pursue the rights to broadcast professional sports, saying it cannot compete with private rivals that have specialty channels and multiple media platforms.

The CBC recently lost the rights to broadcast the National Hockey League’s live games to Rogers Media.

The broadcaster is also grappling with a softened ad market and a loss of $105 million in federal government funding that was announced in the 2012 federal budget.

More in Herald Business Journal

Best foot forward: Ferndale company to make custom shoes easy

Long specializing in insoles, Superfeet is putting 3-D machines in stores to make customized shoes.

Does a hypersonic US reconnaissance plane already exist?

A Skunk Works executive speaks of the top secret aircraft as if it is already in operation.

Alaska Airlines has selected destinations for new service from Paine Field. (Alaska Airlines)
Alaska Airlines will fly from Everett to 8 West Coast cities

Two destinations that didn’t make the list were Spokane and Hawaii.

Port of Everett CEO Les Reardanz has been called up and will be spending much of the year away from his office. He is going to Afghanistan. (Dan Bates / The Herald)
Port of Everett CEO reporting for duty — in Afghanistan

Les Reardanz has been called to active duty with the Navy for an eight-month deployment.

Boeing opens new $17 million training center in Auburn

Workers and dignitaries marked the grand opening of the facility Monday.

Trump’s company fights efforts to shed the president’s name

“Our homes are worth more without the Trump name.”

Airbus floats shutdown of A380 superjumbo

The aircraft is so big that some airports had to expand runways to accommodate the 550-seat plane.

Why 7-Eleven, inventor of the Slurpee, is going organic

As sales of gas, cigarettes and soda plummet, stores to offer “better-for-you” products.

Make sure you don’t miss the memo for financial freedom

Economic empowerment for low- to moderate-income individuals and families.

Most Read