adplus-dvertising
Connect with us

Business

Alberta Health Services to cut 9,700 jobs

Published

 on

CALGARY —
The Alberta government plans to cut the equivalent of 9,700 full time health service jobs in an effort to save $600 million annually.

As many of the employees affected are part-time workers, the actual number of layoffs could rise.

Health Minister Tyler Shandro said the cuts will not affect front-line medical staff including nurses and doctors.

In a press conference Tuesday morning, Shandro said the majority of jobs lost will come from outsourcing jobs in laboratories, housekeeping, food services, and laundry. Shandro estimates approximately 800 jobs will disappear due to attrition.

Another 4,000 housekeeping jobs, 3,000 food service jobs, 2,000 laboratory jobs, 400 laundry jobs and at least 100 management jobs are also expected to be axed in the proposed cuts.

“68 per cent of laundry services in Alberta and, if we look at in the north of the province, 70 per cent of community lab services are currently delivered by the private sector, under contract,” said Shandro. “AHS has also been given permission to develop business cases for contracting out, environmental services like housekeeping in 2022 and food preparation for consideration in 2023.”

Sandro claims most workers will not actually lose their jobs in the transition to privatization.

“Contracting out isn’t a reduction in employment,” explained Shandro. “For most cases, it’s this is a matter of workers just changing their employer from AHS to the (private) provider.”

Shandro says changes in the workforce could start next spring, but changes to the labs may not come into effect until February 2022, when a contract with (current provider)  Dynalife ends.

Contracting out laundry services could begin as early as next April.

The Ernst and Young report had recommended even deeper cuts, amounting to 16,000 lost jobs.

Shandro said the government scaled back the cuts because of the current pandemic response. He did not say the additional cuts have been shelved, only that they are being delayed.

Source:- CTV Toronto

Source link

Business

TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

Published

 on

 

CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

Published

 on

 

BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

Published

 on

 

TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.

The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.

Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.

On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.

In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.

It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:GOOS)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending