CBC to cut 800 jobs, sell assets

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 sale of assets depends on approval by the federal government. Lacroix did not say which assets would be sold.

The CBC is projecting 393 layoffs in its English services — including radio, TV and new media platforms — and 336 layoffs in French services. An additional 70 jobs will be lost at the corporate level.

Layoffs could start in May. The full number of layoffs could be reduced if some employees opt for retirement.