CBC executives are reassessing the need for future job cuts, even as the network faces scrutiny for paying millions in bonuses to its management. Blacklock's Reporter says Carol Najm, the broadcaster’s chief financial officer, defended the decision to allocate $14.9 million in bonuses while the network cut 346 jobs this year, speaking before the Senate national finance committee.“We continue to face financial challenges that impact the entire Canadian media industry,” Najm explained, adding that CBC is grappling with audience shifts from traditional TV to digital platforms. However, despite these financial pressures, management bonuses were paid out based on "performance indicators tied to our strategic plan," Najm said.The CBC has not yet released its 2023 Annual Report, covering finances up to March 31, which could shed more light on the network's overall financial position.Sen. Clément Gignac (Quebec) questioned whether management was truly sharing in the financial sacrifices being made by the organization. “What sacrifices were asked of the management at CBC? We know there were job cuts. What were the sacrifices in terms of bonuses? Have executives been affected by cuts?” asked Gignac.Najm maintained that bonuses for over 1,200 non-unionized employees, including top executives, were based on performance and accountability. “It is a defined structure and process,” she said. “Our board approved the payment of performance pay based upon the fulfillment of our obligations.”When pressed on whether the financial planning accounted for the impact on employees, Najm responded, “We reassess the need for these reductions on an annual basis,” implying that further cuts might be avoided.The CBC receives a $1.4 billion annual grant from Parliament, and records show that all 46 top executives received bonuses totaling over $3 million this year. Another 1,140 managers shared in nearly $12 million in bonuses.The payouts came despite CEO Catherine Tait’s warnings earlier this year about financial hardship for the Crown corporation. Tait, who earns $497,000 annually with bonuses potentially adding an extra $100,000, stated in May that the broadcaster was “not out of the woods.”“Our focus is simple: Keep Canadians informed, build trust in public institutions, strengthen democracy, and protect and promote Canadian culture,” Tait testified at the Commons heritage committee.
CBC executives are reassessing the need for future job cuts, even as the network faces scrutiny for paying millions in bonuses to its management. Blacklock's Reporter says Carol Najm, the broadcaster’s chief financial officer, defended the decision to allocate $14.9 million in bonuses while the network cut 346 jobs this year, speaking before the Senate national finance committee.“We continue to face financial challenges that impact the entire Canadian media industry,” Najm explained, adding that CBC is grappling with audience shifts from traditional TV to digital platforms. However, despite these financial pressures, management bonuses were paid out based on "performance indicators tied to our strategic plan," Najm said.The CBC has not yet released its 2023 Annual Report, covering finances up to March 31, which could shed more light on the network's overall financial position.Sen. Clément Gignac (Quebec) questioned whether management was truly sharing in the financial sacrifices being made by the organization. “What sacrifices were asked of the management at CBC? We know there were job cuts. What were the sacrifices in terms of bonuses? Have executives been affected by cuts?” asked Gignac.Najm maintained that bonuses for over 1,200 non-unionized employees, including top executives, were based on performance and accountability. “It is a defined structure and process,” she said. “Our board approved the payment of performance pay based upon the fulfillment of our obligations.”When pressed on whether the financial planning accounted for the impact on employees, Najm responded, “We reassess the need for these reductions on an annual basis,” implying that further cuts might be avoided.The CBC receives a $1.4 billion annual grant from Parliament, and records show that all 46 top executives received bonuses totaling over $3 million this year. Another 1,140 managers shared in nearly $12 million in bonuses.The payouts came despite CEO Catherine Tait’s warnings earlier this year about financial hardship for the Crown corporation. Tait, who earns $497,000 annually with bonuses potentially adding an extra $100,000, stated in May that the broadcaster was “not out of the woods.”“Our focus is simple: Keep Canadians informed, build trust in public institutions, strengthen democracy, and protect and promote Canadian culture,” Tait testified at the Commons heritage committee.
