BCE Inc. BCE-T will reduce its workforce by 9 per cent, or 4,800 positions, in 2024, its largest restructuring initiative in nearly 30 years.
The Montreal-based telecom announced the job reductions on Thursday as it reported a 23 per cent drop in its fourth-quarter profit, to $435-million. The profit amounted to 42 cents per share, down from 58 cents per share during the fourth quarter of 2022.
The telecom giant had $6.47-billion of revenue during the three-month period ended Dec. 31, up 2 per cent from a year earlier when it reported $6.44-billion of revenue.
“Today’s changes are difficult, but necessary to respond to evolving external drivers, accelerate our transformation and ensure Bell’s future health and longevity,” BCE’s president and CEO said in a statement.
More to come
