Vancouver (with files from Canadian Press) – With the backdrop of communications companies under the gun from regulations to the economy, Telus announced that they are laying off 6000 of their work force.
The Vancouver-based telecommunications company said the reduction announced Friday includes 4,000 workers at its main Telus business and another 2,000 at Telus International.
The cuts were made with “a very heavy heart” and prompted by the “evolving regulatory, competitive and macroeconomic environment,” Darren Entwistle, the company’s president and chief executive, said.
“Against the backdrop of rapid transformation in our industry and the ways in which our customers want to engage with us, today we are announcing a significant investment in an extensive efficiency and effectiveness initiative across Telus,” he said in a news release.
He added that Telus will also offer early retirement and voluntary departure packages.
The company had 108,500 workers at the end of last year, financial markets data firm Refinitiv said.
Telus’ plans to reduce its workforce were announced at the same time as the company revealed its second-quarter net income fell almost 61 per cent from the same period last year to $196 million.
The company’s net income amounted to 14 cents per share for the quarter ended June 30 compared with 34 cents per share in the same quarter a year earlier.
