In a significant move impacting the Canadian telecommunications and technology sectors, BCE ($BCE) and BlackBerry have announced major operational changes. BCE, also known as Bell Canada, has declared its intention to reduce capital expenditures and roll back its fibre network expansion. This decision is attributed to the federal government's policies and the Canadian Radio-television and Telecommunications Commission's (CRTC) wholesale access rate decision. As a part of its strategy to boost income, BCE is also undertaking sweeping layoffs and has initiated the sale of bonds in US dollars to refinance its debt. Concurrently, BlackBerry, a leading cybersecurity firm, is embarking on a cost-cutting drive that includes job reductions. The company aims to increase its annual profit by $100 million through these measures. These developments signal a broader trend of cost optimization and restructuring within the Canadian telecom and tech industries.
Canada's BlackBerry said it was targeting an additional increase of $100 million in its annual profit as the cybersecurity firm slashes costs, including reducing workforce https://t.co/VZdikWmbfw
Canada's BlackBerry said it was targeting an additional increase of $100 million in its annual profit as the cybersecurity firm slashes costs, including reducing workforce. More here: https://t.co/4i5ZouPv4s
BlackBerry to Cut Additional Jobs in Profitability Push $BB https://t.co/qdelb0b8Gv
Canada's BlackBerry to lay off more staff in cost-cutting drive https://t.co/3DHo6NuaRs https://t.co/RW9A0ySzDi
BlackBerry plans layoffs, ‘on track’ for separation of businesses https://t.co/ZSKMUDYBaY
BlackBerry to Cut Additional Jobs in Profitability Push https://t.co/UjI0MZVy9B
BCE, the Canadian telecommunications company that recently announced sweeping layoffs as part of a broader effort to boost income, is selling bonds in US dollars to refinance debt https://t.co/sYPz41ZKhi
"Our intention to reduce capex.. and roll back fibre network expansion is a result of federal government policies and the CRTC's wholesale access rate decision. There could be more to come (layoffs and capex cuts) depending on where this goes" $BCE.TO
Dumb-Bell: There’s Never Been a Better Time to Nationalize the Telcos $BCE #Bell #BellLetsTalk #layoffs #dividend #telecom #Canada https://t.co/89L6clvpiu