Telecommunications company, BCE Inc. (BCE), Thursday announced that it plans to cut 9 percent of its workforce or around 4,800 roles in 2024 including at Bell as part of its cost restructuring program.
The company said that the largest layoff initiative would save yearly cost of $150 million to $200 million.
In addition, Bell Media plans to sell 45 out of its 103 radio stations to seven buyers, the company said in a statement.
Currently, BCE's stock is trading at $38.05, down 3.38 percent on the New York Stock Exchange.
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