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

News Snapshot:

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...