Canadian Broadcaster Cuts 800 Jobs as Revenue Falls

Canadian Broadcasting Corp., the country's government-run radio and television agency, plans to cut as many as 800 jobs, or almost 10 percent of its workforce, to trim costs as advertising plummets.

The broadcaster faces a funding shortfall of C$171 million ($139 million) this year, forcing it to fire workers and scale back programming, according to a statement from Ottawa today. Factors contributing to the shortfall include declining advertising, aging infrastructure and increased programming costs.

"The shortfall was there and we were looking for ways of managing it and this is where we are today," said Angus McKinnon, a spokesman for the broadcaster. Read it in details on http://www.bloomberg.com

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