CBC/Radio-Canada employees are on edge as they prepare for a virtual meeting scheduled on Monday with CEO Catherine Tait, aimed at addressing the “financial challenges” the public broadcaster is currently grappling with. The meeting is expected to shed light on potential cuts that may affect the workforce.
Several sources have hinted at the possibility of significant layoffs, estimating the number to be between 600 and 700 employees nationwide. Both CBC and Radio-Canada are anticipated to be affected, with Quebec alone facing the potential elimination of over 300 positions.
In an email circulated to all employees on November 29, Tait expressed her intention to “give an update on [the] financial challenges” and “take stock of what is coming in the coming months.” The senior management of CBC/Radio-Canada, however, declined to comment on the upcoming meeting at this time.
The Union of Radio-Canada Workers has yet to respond to requests for an interview, adding to the uncertainty surrounding the situation.
This development follows Tait’s previous announcement in November, where she acknowledged the need for “difficult efforts” to trim the public broadcaster’s spending by $100 million over the next three years.
At that time, Tait did not rule out the possibility of resorting to job cuts. In October, a meeting with employees had already signaled a hiring freeze.
These potential job cuts come against the backdrop of a challenging period for the media industry in Canada and Quebec. In November, Quebecor disclosed plans to eliminate 500 positions within Groupe TVA as part of a broader reorganization. Earlier in the fall, Métro Média ceased operations, and this summer, Bell Canada shuttered several radio stations and cut 1,300 seats due to revenue losses.
As of April 1, 2023, CBC/Radio-Canada employed 7,960 full-time equivalents across the country, making the looming layoffs a significant and potentially impactful event.
Information for this briefing was found via Journal de Montreal and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.