Rogers Offers Buyouts, Doubles Down on Sports

0:00Rogers, Canada's telecom powerhouse, just announced voluntary buyouts for half of its 25,000 employees. That's potentially 12,500 people across various divisions looking at packages to exit on their terms. Spokesperson Zach Carrero explained, it's all about tweaking the cost structure to mash today's rough business climate. Some teams are rolling out these departure and retirement options, but on-air talent, sports net staff, and unionized workers aren't eligible. Governments are nodding approval, saying it's a solid play in an industry scraping for growth. Telecom giants like Rogers face stiff competition from BCE and to lose slashing prices to hold market share. Plus government rules on network access. Expiring in 2030, meanwhile, Rogers is doubling down on sports to offset the pain, owning the Toronto Blue Jays outright in 75% of Maple Leaf sports. And entertainment, which runs the Maple Leafs, Raptors, and Toronto FC.

1:03They're set to buy the rest by year end, merge it all into a $25 billion sports empire, and sell off a minority stake. First quarter brought some wins, too, with 28,000 new wireless subscribers, and revenue hitting $5.48 billion. Topping estimates. Rogers stays lean in sports focused, navigating this telecom storm. Stay informed with Canada News today, AI-powered updates.