More than 11,000 TELUS Corp. and TELUS Mobility workers in Alberta and B.C. – almost 40 per cent of the company’s staff – are being offered early retirement and voluntary departure incentives as the company moves to cut costs.
Company president and CEO Darren Entwistle says the offer is a part of an operational efficiency program.
“Successful companies earn the right to grow,” Entwistle said last week. “This program will support our growth strategy, allowing TELUS to improve its profitability and quality of customer service despite the adverse financial impact of recent regulatory decisions.”
The company has said it expects to lose $75 million in price flow annually as a result of the recent new pricing regime announced by the Canadian Radio-television and Telecommunications Commission, and $45 million from its operating earnings in 2002.
The CRTC in late May rejected a request from telephone companies including Telus, Bell Canada, Manitoba Telecom Services Inc., and Aliant Inc. for permission to raise rates for residential customers.
Entwistle said TELUS will provide “innovative choices” for unionized staff choosing to depart, including new business venture consultation, a business idea database and assistance with business plan development and business registration.
TELUS has about 28,000 employees, and says it continues to selectively hire new workers in specific growth areas.
