Canada’s Largest Telecom Cuts 9% of Jobs as Outlook Is Soft
- BCE’s move will affect 4,800 positions, aims to save C$200M
- Shares fall to lowest since October; dividend increase is 3.1%
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BCE Inc., Canada’s largest telecommunications firm, will cut jobs by about 9%, undertaking its largest workforce restructuring in nearly 30 years.
The Quebec-based company plans to reduce its cost base as it responds to a soft outlook for the year ahead. That means reducing the number of staff and contractors by about 4,800 positions this year, the company said in a statement Thursday.