Canada's Telus to shed 6K workers as profits plunge 61%
Canadian telco Telus plans to ditch 6,000 workers across its business — about six percent of its global workforce — after its profits fell 61 percent year over year during the second quarter of 2023.] on Friday. Some 4,000 positions will be cut at Telus, and 2,000 at Telus International.
The majority of these savings should be realized within the next six months, according to CFO Doug French, who attributed the Canadian conglomerate's precipitous quarter to economic headwinds made worse by a"highly competitive environment."
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