Bell Media lays off employees, citing industry challenges
by The Canadian Press
Posted Jan 31, 2017 4:59 pm EST
Bell Media says it’s laying some people off as it restructures operations amid a challenging industry landscape.
Spokesman Scott Henderson said in an email Tuesday that the company is not disclosing the number of workers who will lose their jobs.
But he said the layoffs, which began Monday and are ongoing, will come from more than two dozen Bell Media locations across the country.
Henderson said the restructuring comes as it and other media companies in the country face increasing international competition, the evolution of broadcast technology, and advertising and regulatory pressure.
He said regulatory decisions, like the CRTC banning Bell Media from substituting Canadian ads with American ones during the Super Bowl this year, have had a significant effect on revenue.
Bell Media owns dozens of local TV stations and specialty channels, 105 licensed radio stations, more than 200 websites and over 30 apps. The media division employed 6,568 people as of Dec. 31, 2015, down from 7,342 a year prior.
BCE Inc. will report its fourth-quarter earnings on Thursday. Last quarter, Bell Media’s revenues rose by 3.5 per cent to $716 million thanks to subscriber growth from The Movie Network, its Crave TV streaming service and TV Everywhere.