Lacroix says CBC budget freezes executive salaries, avoids more U.S. programs

The Canadian Press ~ The News
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TORONTO - An austerity budget for the CBC includes a salary freeze for top executives, says CBC president Hubert Lacroix, adding the broadcaster plans no additional American programming and no radio ads.
Lacroix says in a memo to staff that management is dedicated to doing its part to help the CBC weather a financial crisis.
He says ''executive salaries are being frozen at 2008 levels for 2009-2010'' and potential bonus payouts for executives will be cut in half.
Lacroix says the budget, approved earlier this week by the CBC's board of directors, also relies on the sale of assets ''to finance our way through this without deeper cuts.''
But he notes that move would require government approval.
In a speech to the Empire Club last month, Lacroix said the public broadcaster was facing a significant budget shortfall that could result in deep cuts to staff and programming.
He said at the time that the economic slump could force the broadcaster to consider putting more American programs on the air, increasing advertising, selling assets and reducing geographic coverage.
Lacroix said Wednesday that the new budget will reduce compensation for about 80 top managers by an average of 10 to 20 per cent.
Lacroix says the board also approved a voluntary retirement incentive program.

Organizations: CBC

Geographic location: U.S., TORONTO

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