3,300 employees accept buyouts — far above company’s original estimate of 650
Shaw originally estimated about 10 per cent of the 6,500 eligible employees would take the voluntary buyouts.
Shaw Communications says 3,300 of its employees have decided to take a voluntary buyout package — far above the company’s original estimate of about 650.
The Calgary-based company says that about one-quarter of its workforce will be departing as part of a previously announced multi-year transformation of its business.
Shaw originally estimated about 10 per cent of the 6,500 eligible employees would take the voluntary buyouts, which were announced about two weeks ago.
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25% cut! Holey CRAP! How does a company employ 25% more people that it ultimately needs? And to have to rid itself of 25% staff in essentially one fell swoop?
Management NEEDS to be held to account to ever allow in reality 25% more people than it needs to be hired and thus later see as unneeded. Um, if these people were so critical, how does a company LET THE 25% STAFF GO! and not see massive loss of service quality?
It’s a revamping of the business, foretelling the demise of the cable TV business and a focus on mobile. The company will make money on this process after 2020. It will take a near half-billion hit now.