Hubert Lacroix said the broadcaster is facing a budget shortfall of 171 million Canadian dollars ($139 million) this fiscal year.
He said the job cuts will help balance the budget while trying to keep local stations open.
The CBC had been unsuccessful at convincing the federal government to give it an advance on future federal appropriations, Lacroix told thousands of employees via closed-circuit TV and teleconference. It couldn't immediately be determined how many people work for the broadcaster.
The plan is to cut about 400 jobs at the CBC, about 330 at Radio- Canada and another 70 corporate positions.
The budget for cbc.ca, the company's popular website, would increase.
The layoffs are to begin in mid-May after management assesses how many voluntary retirements it can secure. All layoffs would be complete by the end of September, Lacroix said.
Executive salaries are being frozen at the CBC, but Lacroix maintained during the call that management bonuses would only be reduced by half and not eliminated for the next fiscal year.
