(Reuters) -Canada’s Bell, a unit of BCE Inc, said on Wednesday it would cut 1,300 jobs and close six radio stations in a bid to rein in costs.
Most of the layoffs would affect management and the company will also sell three AM radio stations to a third party, according to Bell.
The jobs cuts add to the tens of thousands of layoffs announced this year by companies from Meta Platforms to Goldman Sachs as they grapple with a growth slowdown caused by rising interest rates and elevated levels of inflation.
Bell has been struggling to lower costs and boost audience growth as consumers make the shift to streaming services. A pullback in advertising spending has also added to the company’s woes.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shilpi Majumdar and Shounak Dasgupta)
