Telecom giant Telus has revealed plans to slash 6,000 jobs in a bid to enhance cash flow and maintain competitiveness.
The cuts, affecting 4,000 roles at Telus and 2,000 at Telus International, involve early retirements and voluntary departures. The move, driven by shifting regulations and competition, is part of a broader efficiency initiative.
Despite concerns from union leader Donna Hokiro, Telus President Darren Entwistle sees this as pivotal in adapting to industry transformation.
The restructuring will cost $475 million in 2023 but yield over $325 million in annual savings. Telus also reported a 61% Q2 net income drop.