Shaw lays off 500 employees, about 4% of its Canadian workforce

Shaw Communications (NYSE: SJR), feeling pressure on traditional television, Internet and phone businesses from a new array of telco competitors and seeking capital to expand into the wireless space, has sent termination notices to 500 employees, or about 4 percent of its Canadian workforce.

Additionally, the MSO consolidated into seven regional service territories from 18 and closed a distribution center and call center.

"Some of the smaller regions didn't warrant the overhead we had," said Peter Bissonnette, Shaw's president. "We've been looking at our margins and our overall business and we said, ‘Let's look at this with a really scrupulous eye.'"

For more:
- Financial Post has this story

Related articles:
Jim Shaw leaving Shaw Communications' top spot early
Good times, tough competition may accelerate Shaw's wireless move

Suggested Articles

Comcast is calling on its cable brethren, Charter and Cox, for a new initiative called On Addressability focused on building a “sound, scalable and sustainable…

NCC Media and OpenAP are teaming up to allow national advertisers to use OpenAP’s audience segment definitions when buying across NCC Media’s linear, VOD and…

Comcast is launching new controls for its X1 television service that will allow people with certain disabilities to operate their cable TV systems using their…