Morning Update: BCE cutting work force by 9% in biggest restructuring effort in almost 30 years

Good morning, BCE Inc. is undertaking its largest restructuring initiative in nearly 30 years by reducing its work force by 4,800 positions, blaming a difficult economy and a CRTC regulatory requirement to open its network to competitors. In an open letter to employees yesterday, president and chief executive officer Mirko Bibic called the decision "incredibly tough" and said that, wherever possible, the company would use vacancies and natural attrition to reduce its work force, which is being cut by 9 per cent. Read more: Open this photo in gallery: BCE Inc. headquarters is seen in Montreal on Aug. 3, 2023.Christinne…