Bell Media, a division of BCE Inc (TSX: BCE), has revealed plans for additional layoffs as part of its ongoing restructuring efforts. The company confirmed on Thursday that it will eliminate 43 technician positions, with departures scheduled between August 30 and September 27.
Unifor, the union representing over 10,000 media workers in Canada, expressed outrage at the announcement, stating that up to 49 unionized positions could be affected. The cuts are expected to impact various production roles, including electronic news gathering editors, media services coordinators, graphic artists, and audio-visual technicians.
This latest round of job reductions is part of a broader restructuring plan announced by Bell in February, which includes the relocation of Toronto stations CP24 and BNN Bloomberg to the company’s Scarborough campus. Bell Media aims to consolidate these operations with existing networks such as CTV Toronto, CTV News Channel, and CTV National News.
Sponsored · Altamira Gold Corp.
READ: Quebecor Goes After Loblaw’s Partnership With Bell And Rogers: “Major Cause Of Concern”
The company stated it would provide training and offer voluntary severance packages to mitigate the impact on affected employees. However, Unifor National President Lana Payne criticized the move as “yet another blow to journalism and democracy”.
This announcement follows significant job cuts earlier this year when Bell eliminated 4,800 positions across the company, with less than 10% affecting Bell Media. This follows cuts in June 2023, when the company cut 1,300 media jobs.
Bell’s CEO, Mirko Bibic, has cited a challenging operating environment, regulatory hurdles, and economic pressures as factors driving these restructuring decisions. The company reported a $140 million revenue drop in 2023, with its news operations losing $40 million annually despite having the most-watched network of local TV stations.
Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
