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BCE Inc. Announces Major Restructuring with 4,800 Job Cuts and Sale of 45 Radio Stations

The telecommunications giant cites declining legacy businesses and unsupportive government policies as key reasons for the layoffs and divestitures.

Overview

  • BCE Inc. is cutting 4,800 jobs and selling off 45 of its 103 regional radio stations across Canada, marking its largest restructuring in three decades.
  • The layoffs and sales affect Bell Media's operations in British Columbia, Ontario, Quebec, and Atlantic Canada, impacting journalists and other workers.
  • Bell Canada's CEO blames the federal government and regulatory decisions for the company's challenges, including a significant decline in advertising revenue.
  • The restructuring includes ending multiple TV newscasts and making other programming cuts, with less than 10% of the job cuts directly affecting Bell Media.
  • Bell's actions are in response to declining legacy phone and news business, with the company seeking to save between C$150-$200 million this year.