-- Canadian telecom operator Rogers Communications (RCI-B.TO) is offering voluntary departure packages to half of its 25,000 employees, the Globe and Mail is reporting on Monday.
It's the telecom sector's largest round of buyouts in recent years amid slowing growth, the paper said.
Here are some details cited in a Reuters report, as published on the website of BNN Bloomberg:
- Rogers on Monday said employees across numerous business divisions will be offered packages, but did not say whether it had a reduction target, according to the report.
- "We are taking steps to adjust our cost structure to reflect the business realities of the current environment. As part of this, some teams have chosen to offer voluntary departure and retirement programs to give some employees the choice to decide whether they'd like to stay with the company or begin a new chapter," Rogers spokesperson Zac Carreiro told the Globe and Mail.
- Some teams across the company including on-air talent, Sportsnet employees at Rogers Sports and Media and union employees are not eligible, the report said.
- Rogers did not immediately respond to a Reuters request for comment.
- Earlier this month, Rogers forecast 2026 capital expenditure about 30% below 2025 levels, as it reins in spending amid a tough pricing environment.
(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)