Bell Aliant Cuts 500 Management Jobs
Atlantic Canada’s leading telecom carrier, Bell Aliant, has announced plans to cut costs and streamline operations by eliminating some 15% of its management workforce, or approximately 500 jobs.
“The leaner management structure will bring all employees closer to customers, allow for faster decision making and reduce costs,” commented Bell Aliant president and CEO, Karen Sheriff.
National Bank Financial analyst, Greg McDonald, expects the company to save between $30 and $50 million annually as a result of the cutbacks, likely allowing it to maintain its current distribution to investors, despite weaker economic realities.
Bell Aliant’s main parent company, Bell Canada Enterprises Inc., announced similar cuts to its management workforce last summer, and is expected to reassess its ownership position in the Atlantic telecom carrier.
News z: Jeremy