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BCE Inc (2)
Symbol BCE
Shares Issued 912,289,567
Close 2023-08-04 C$ 56.28
Market Cap C$ 51,343,656,831
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Globe says Telus axing jobs like BCE, Rogers have done

2023-08-08 09:25 ET - In the News

See In the News (C-T) Telus Corp (2)

The Globe and Mail reports in its Saturday, Aug. 5, edition that Telus is cutting its global headcount by 6,000 people. The Globe's Alexandra Posadzki writes that the reductions include 4,000 positions at Telus and 2,000 at its digital customer-experience subsidiary, Telus International, representing about 5.5 per cent of its total labour force. Telus had 108,500 employees at the end of 2022, including 73,300 at Telus International. About one-third of the job reductions will be achieved through attrition or by offering voluntary departure and early-retirement packages said Telus chief financial officer Doug French. He said the restructuring effort will cost the company up to $475-million this year and will result in annual cost savings of more than $325-million. He added, "Customers want self-serve options, and so as we've evolved and invested in those, it's also created some efficiency opportunities." Telus's rivals, BCE and Rogers Communications, have also been trimming their headcounts. BCE recently cut 1,300 positions, citing declining legacy phone revenues and losses in its news and radio operations, while Rogers has been eliminating duplicate roles after its $20-billion takeover of Shaw Communications.

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