Rogers Communications has initiated voluntary departure and retirement packages for employees across its telecommunications company. The move impacts workers in "most" teams, including internet, wireless, and cable divisions.
A company spokesperson stated the company is "taking steps to adjust our cost structure to reflect the business realities of the current environment." Union employees, on-air talent, Sportsnet staff, and those at Maple Leaf Sports and Entertainment and the Toronto Blue Jays are not eligible.
The packages follow CEO Tony Staffieri's remarks about reducing operating costs and capital investment plans due to regulatory and competitive pressures. He emphasized investments in digital and AI tools for efficiency and cost reduction.
Rogers recently reported a first-quarter profit increase to $438 million on revenue of $5.48 billion, despite slashing capital spending by 30% and cancelling or delaying projects.