Bell Canada has announced a reduction of around 690 employees, mostly managerial staff, in a move to lower debt and boost growth. These layoffs come after a series of job cuts within the company last year.
The telecommunications giant is eliminating approximately 650 non-unionized management roles nationwide, accounting for less than two percent of its total workforce. Additionally, Bell is slashing about 40 positions at Bell Media, its media and entertainment subsidiary.
In a statement to CBC News, Bell stated that the decision to cut managerial jobs was tough but necessary to advance its three-year strategic plan for sustainable growth. While the company did not elaborate on the reasons behind the Bell Media layoffs, it expressed gratitude to the affected employees for their commitment and contributions.
Earlier this year, Bell offered severance packages to 1,200 unionized workers, citing unprecedented challenges in the telecom industry. The sector has experienced a slowdown in growth, prompting major players like BCE and Rogers to divest assets to streamline operations.
Notably, Bell sold its 37.5% stake in Maple Leaf Sports and Entertainment to Rogers for $4.7 billion and later announced the acquisition of U.S. telecom firm Ziply for $5 billion. Over the past year and a half, Bell has implemented significant job cuts, including 1,300 layoffs in June 2023 and a workforce reduction of 4,800 employees in February 2024, along with the closure of multiple radio stations and additional layoffs targeting technical staff in June of the same year.