In 1994, the Quebec government announced budget cuts for Radio-Québec, in which its budget was reduced by $10 million. In 1995, Radio-Québec president Jean Fortier announced that the network was virtually bankrupt. As a result, over 150 staffers were laid off (out of over 750 people employed), with plans for further layoffs to trim the employee count to 300 staffers. Programming produced in-house would either be cancelled or transferred to independent companies. In addition, the network would adopt the "Télé-Québec" name the following year, in 1996, with the crown corporation renamed as "Société de télédiffusion du Québec". A proposal for the new Télé-Québec to carry strictly educational programming was never carried out. Instead, it retained its mixed educational-entertainment schedule.