(The Telus Building in Toronto is pictured in this Dreamstime stock image (Dreamstime Stock image)

By Canadian Press

Telus announces 6,000-person layoff after Q2 saw 61% drop in net income

Aug 4, 2023 | 7:04 AM

VANCOUVER – Telus Corp. says it is cutting 6,000 jobs.

The Vancouver-based telecommunications company says the cut includes 4,000 workers at its main Telus business and another 2,000 at Telus International.

The company also says it will offer early retirement and voluntary departure packages.

Financial markets data firm Refinitiv says Telus had 108,500 workers at the end of last year.

Plans to reduce its workforce were announced at the same time as the company revealed its second-quarter net income fell almost 61 per cent from the same period last year to $196 million.

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The company’s net income amounted to 14 cents per share for the quarter ended June 30 compared with 34 cents per share in the same quarter a year earlier

This report by The Canadian Press was first published Aug. 4, 2023.

Companies in this story; (TSX;T)

The Canadian Press