CBC Sees Staff Compensation Balloon Since 2015

The Canadian Broadcasting Corporation has been in the headlines today, with two separate outlets reporting on matters related to compensation of both employees and former executives at the government-supported broadcaster.

Taxpayer.com today issued a report related to the growth in employees earning six-figure incomes since Trudeau has come into power in 2015. The report follows an access to information request conducted by the Canadian Taxpayers Federation that resulted in the provided data.

READ: CBC Desperately Tries to Stay Relevant, Plans Shift to Online-Only Streaming Services

The number of staff earning $100,000 or more has risen from 438 in 2015, to that of 949 as of the end of 2021. In terms of dollars, the cost of employing such individuals has risen from $59.5 million to that of $119.5 million.

The federation also highlighted that over $156.0 million in bonuses and raises have been handed out since 2015, which averages out to roughly a $14,200 bonus per employee per year.

“If the CBC has enough money lying around to hand out millions in bonuses and raises during a pandemic, then taxpayers shouldn’t be forced to fork over more money,” commented Franco Terrazzano, Federal Director of the Federation.

Retroactive pay increases.. for former executive

Separately, Holly Doan over at Blacklocks Reporter this morning highlighted on Twitter that ex-CBC President Hubert Lacroix has received a wage increase.. even though he no longer is employed by the company. The decision is said to have been at the recommendation of the Prime Minister himself, Justin Trudeau.

Lacroix served as the President and CEO of CBC from 2008 through to 2018. This change appears to be for his final year of service with the company, although further context on why the retroactive increase was granted was not provided within the government filing.

Information for this briefing was found via the sources and companies 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.

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