CBC to slash 657 full-time jobs over 2 years as broadcaster adjusts to future without sports

The CBC told employees Thursday it will eliminate 657 full-time jobs over the next two years as it faces a $130-million financial shortfall.
Hubert Lacroix, president and chief executive of the Canadian Broadcasting Corporation, told staffers the broadcaster will also stop pursuing the purchase of professional sports rights and halt any planned local expansion of news coverage.
He said the cuts are due in part to the loss of the Hockey Night in Canada rights, which Rogers Communications Inc. won last November, but also due to weak ad revenue and pressure from inflation as its funding from the government is fixed.
More (NatPost story)