Telecom Company Plans To Cut 1,300 Jobs – Crisis In The Firm: Due to the downturn movement of the economy, companies in all sectors across the globe are in crisis to set the profit path expectedly. Most companies are using a layoff tool to cut their spending cost. Recently, the Canadian media and telecom company ‘BELL’ has planned to cut nearly 1,300 jobs.
The company also planned to shut six radio stations and three stations are set to sell due to the revenue drop in the business. This was announced by the parent company BCE Inc on Wednesday. According to the report, this layoff would impact management-level employees.
The report states that the company’s revenue has been fell by 5.5% and this happens due to the lowering of advertising and subscriber in Q1 2023. Most of the subscribers of the company have been shifted to the streaming services. The officials are expecting that this crisis is due to the pullback of advertising spending.