In an announcement made by CBC president, Hubert Lacroix, on Thursday afternoon, he revealed to have decided to lay off 657 employees in the next two years. The move is a result of its cost cutting initiatives which are primarily triggered by the end of Hockey Night in Canada production at the CBC. Lacroix explained that the decision is a part of total $130-million that is being cut from annual expenses at the CBC in order to balance the budget.
Consequently, professional sports is not going to be on the agenda with the NHL rights anymore because Rogers snapped the event with its $5.2-billion deal. However, amateur sports coverage will continue including the 2016 Summer Olympics in Rio de Janeiro. According to Lacroix, the sporting rights will only be pursued in the future if the CBC can cover the costs, which is a highly contentious statement because sports coverage are being increasingly coveted by private broadcasters increasingly driven to draw eyeballs to events that have to be watched in real-time.