Bell Media announced nearly 5000 job cuts and selling 45 of its radio stations, citing economic challenges. (Courtesy: Sean Kilpatrick/The Canadian Press)
Bell Media makes a shocking announcement to cut nine per cent of its workforce and plans to sell 45 of its radio stations.
Bell Canada Enterprises provided an open letter on Thursday announcing it’s cutting nine per cent of its workforce, the largest restructuring initiative in nearly 30 years.
The 4,800 employee cuts involve journalists and other workers at its Bell Media subsidiary.
The company is also selling 45 radio stations of its 103 regional radio stations. Among the regions are British Columbia, Ontario, Québec and Atlantic Canada.
BCE Inc. President and CEO Mirko Bibic added they will support the people affected by providing severance packages, career transition services and continued access to their health benefits.
Last Spring, the media giant also cut 1,300 positions – six per cent of its workforce and nine radio stations were either closed or sold.
“We continue to face a difficult economy and government and regulatory decisions that undermine investment in our networks, fail to support our media business in a time of crisis and fail to level the playing field with global tech giants,” Bibic said.
Online, some people are supporting the restructuring plans of Bell Media.
Meanwhile, others are bringing up this announcement following its recent Bell Let’s Talk Day.
Another user believes the world of radio has shifted.
Bibic also shared in the open letter that the company plans on using vacancies and natural attrition to minimize the impact of their team.