Now to most people this would be bad, if not tragic news.
But that's because most people have no idea what kind of crazy pay and pension arrangements apply at the BBC.
Put the facts on the table and most people would think the BBC deputy editor sounds like a lottery winner - not a victim of harsh economic times.
Mark Byford is a public servant whose salary is £475,000 a year - which he will continue to be paid until he leaves the warm embrace of Auntie Beeb in June 2011 - when the post will finally be made redundant.
Mr Byford will also receive an extremely generous redundancy payment of between £800,000 and £900,000 - though how much of that will be tax free is unclear.
In addition, Mr Byford has built up a pension pot worth £3.7 million - at public expense - from which he can expect £215,000 a year - when he reaches retirement age.
No doubt Mr Byford was good at his job and deserves all the praise he has received - from his bosses at the BBC and elsewhere.
But it has to be said that these sums of money are fantastical - far beyond the reach or even the imagination - of other public service workers.
Carers and classroom assistants, for example, who have been fighting for equal pay all these years - and then end up being paid less than a council refuse worker.
As the debate around public spending continues - the first thing to go should be the over generous pay and pension arrangements - that apply only to the senior people at the very top of the food chain.
And there are examples everywhere - not just at the BBC.