Shaw Communications says 3,300 of its employees have decided to take a voluntary buyout package, far above the company’s original estimate. That represents about one-quarter of the company’s workforce.
In a press release posted on the company’s website, Shaw said the buyouts were part of a “total business transformation initiative”:
“Shaw has built decades of success by being a company that adapts well and shapes its future. We determine how we can improve, choose a path, and act on it. We are making the necessary changes to better serve our customers through a lean, integrated and more agile workforce,” said Jay Mehr, President, Shaw Communications, in a statement.
“The actual uptake falls within scenarios considered and therefore we expect the business to continue to operate in the normal course with no impact on customer experience,” said Mehr in the statement.
“We made the difficult but necessary decision to modernize our wireline and satellite businesses by offering a generous package to those people who helped us build Shaw and chose not to join us in this transformative period of growth. We thank all our employees for the contributions they have made to this organization and we thank each of them for their dedication to our customers.”
The company offered voluntary buyouts to 6,500 Shaw Communications and Freedom Mobile employees.
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