By Ketki Saxena
Investing.com -- In a strategic move to "significantly adapt" its news delivery methods, BCE (TSX:BCE) Inc. has announced the elimination of approximately 1,300 jobs, or about three per cent of its workforce. Additionally, nine radio stations will be closed or sold as part of this restructuring effort.
The new approach involves "moving to a single newsroom approach across brands, allowing for greater collaboration and efficiency," as per Richard Gray, Vice-President of News at Bell, who shared these plans in an internal memo.
The job cuts include a six per cent reduction at Bell Media which operates under BCE Inc.'s Bell Canada division. The media conglomerate's portfolio consists of assets such as the CTV television network, specialty TV channels, radio stations, and production studios.
In addition to workforce reductions, employees were informed about impending closures affecting several radio stations including Winnipeg's Funny 1290; Calgary's Funny 1060; Edmonton's TSN 1260 Radio; Vancouver’s BNN Bloomberg Radio 1410 and Funny 1040; along with London's NewsTalk 1290.
Bell Media is also in the process of selling Hamilton’s AM Radio 1150 and AM820 as well as Windsor’s AM580 to an undisclosed buyer pending approval from the Canadian Radio-television and Telecommunications Commission (CRTC).
Furthermore, management positions will be reduced by six per cent and the number of executive roles within BCE Inc. will see a 20 per cent decrease compared to 2020.
BCE Inc.' says the decision is comes in response to unfavorable public policy and regulatory conditions that the company can no longer afford to ignore.