Layoffs could follow.
Shaw is offering severance packages to a massive 6,500 employees, as they undertake what is being called a “transformation” of their business.
As noted by BNN, “In a statement, Shaw said about 6,500 employees have been offered the package – including workers at Freedom Mobile which the company bought in 2016. About 10 per cent are expected to accept the offer. Shaw had approximately 14,000 employees as of the end of August.”
Those who don’t accept the buyouts could reportedly face layoffs.
Considering that the number of workers being offered the buyouts are equal to almost half of the company, it’s a staggering change – and represents a large potential loss of jobs in Canada.
Here’s the reason behind the severance packages, per a memo reported on by BNN:
“People are increasingly choosing to not buy our industry’s legacy product offering, and people no longer want to interact with companies the way they used to — and this is especially true in our category. In the midst of these dramatic changes driven by our customers and technology, we have a critical opportunity to redefine all aspects of our operating model — from how we deliver products and services to how we manage our business. This one-time offer is designed to motivate Shaw employees to think critically about their future with our company, and make realistic decisions about their role in Shaw’s evolution.”
While written in corporate-speak, it seems Shaw is having some tough times, and seem concerned about worse times ahead.
It’s also a sign of the problems within our economy under the supposedly ‘positive’ surface.
Photo – Google Maps