"Bell Canada says it's cutting approximately 690 employees, mostly managers, to help reduce debt and drive growth. The cuts follow thousands of company layoffs last year. This time Bell says it's axing about 650 non-unionized management positions across the country, representing less than two per cent of its workforce. Canada's largest communications company said it's also cutting approximately 40 jobs at Bell Media, which represents less than one per cent of its news division."
"Earlier this year, Bell offered severance packages to 1,200 unionized employees, attributing the move to "unprecedented challenges" in the telecommunications industry. Canada's telecom industry has seen a slowdown in growth over the last year, and major players like BCE and Rogers have shed some of their assets in an effort to reduce costs. Bell sold its 37.5 per cent ownership stake in Maple Leaf Sports and Entertainment (MLSE) to Rogers for $4.7 billion last September."
Bell Canada is eliminating approximately 690 positions, primarily non-unionized management roles, including about 650 management jobs and roughly 40 positions at Bell Media. The management reductions represent under two per cent of the company's workforce, while the Bell Media cuts represent under one per cent of its news division. The company framed the layoffs as a move to reduce debt and advance a three-year strategic plan to achieve sustainable growth. The cuts follow earlier severance offers to 1,200 unionized employees, asset sales and acquisitions, and multiple rounds of layoffs over the past year and a half.
Read at www.cbc.ca
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