Bell Media announces nationwide layoffs
Bell Media says it’s embarking on layoffs as it restructures operations amid a challenging industry landscape.
The division’s vice-president of communications, Scott Henderson, said in an email the company is not disclosing the number of people who will be impacted by cutbacks.
He said more than two dozen Bell Media locations across the country are affected and layoffs, which began Monday, are ongoing.
Henderson said the restructuring comes as it faces increasing international competition, the evolution of broadcast technology, and advertising and regulatory pressure.
He said regulatory decisions, such as the CRTC banning Bell Media from substituting Canadian ads during the Super Bowl this year, have had a significant revenue impact.
Bell Media owns dozens of local TV stations and specialty channels, 105 licensed radio stations, more than 200 websites and more than 30 apps. The media division employed 6,568 people as of Dec. 31, 2015, down from 7,342 a year prior.
BCE Inc. will report its fourthquarter earnings on Thursday. Last quarter, Bell Media’s revenues rose 3.5 per cent to $716 million, thanks to subscriber growth from The Movie Network, its Crave TV streaming service and TV Everywhere.