Massive Buyout Plan Revealed At Rogers Communications

Rogers Communications Inc. is offering voluntary buyouts to approximately 10,000 eligible employees as part of a major cost-cutting drive.

The Canadian telecommunications, media, and sports giant confirmed the move to CBC News on Monday.  “We are taking steps to adjust our cost structure to reflect the business realities of the current environment,” the company said in a statement. 

“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, which employs about 25,000 workers, did not say how many employees it expects to accept the offers. The job reductions, first reported by The Globe and Mail, follow the company’s announcement last week that it will slash capital spending by 30 per cent this year, citing a “punitive” regulatory environment and competitive pressures.

The buyouts are targeted at certain teams in business units and corporate functions. On-air talent, Sportsnet employees at Rogers Sports and Media, Toronto Blue Jays staff, and unionized workers are not eligible.

The initiative comes after Rogers’ acquisition of Shaw Communications, which was approved by the federal government with conditions including maintaining a Calgary headquarters for at least 10 years and creating 3,000 new jobs in Western Canada within five years.