Massive BCE Layoffs Get Under PM’s Skin | The Sector is Burning

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Prime Minister Justin Trudeau is not delighted with the huge variety of tasks that will be lost as BCE Media announces huge modifications. We'll cover that story here.

Likewise today, we look at the following stories:
The Canadian Foreign Home Purchaser Restriction program is extended two years.
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Massive BCE Layoffs Get Under PM's Skin | The Sector is Burning

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About the Author: Richard Money

23 Comments

  1. As a BCE shareholder, I would have at least liked to think that those savings from job losses will accrue to the company, unfortunately they are all going towards increase in interest expense 200-300 million increase expected for this FY.. Extremely disappointing forecast for the company

    1. Fellow shareholder here. It’s actually a wash because Bell was granted a $40M break on their regulatory fees, which just happens to be the amount of the restructuring fees. Still, the forecast is rather depressing.

    2. Indeed, a 5-11% decrease in FCF YOY. I was piling on shares in the 52 range assuming that at least that FCF would stay the same which would justify a 56ish share price but oh well

    3. @@TheTttooom -Ouch. I can’t even remember the last time I added to my shares. I know it was sometime just before the government cancelled the deal with the Ontario Teacher’s Pension Plan to take them private.

  2. I’m no fan of Justin Trudeau…but I have to agree with him in this case. I own shares of BCE that I will continue to hold at least for a while longer…but I’m not adding to my position, even at these depressed levels.

    1. Yeah, you know messed up big time when he’s the voice of reason. Like him or not, he’s 100% right on this.

    1. He is. His own government approved the Rogers takeover of Shaw even after that massive summer outage Rogers had, eliminating the already scant competition in this sector. And now he’s pretending to be angry? I wouldn’t be surprised if the industry minister was on the take.

  3. BCE is at least being responsible in terms of balancing their budget and maintaining profitability. Maybe Trudeau and his free spending cronies can take a lesson from this….oh, who am i trying to kid…Liberals and balanced budgets are forever strangers.

    1. Well, he was (or should I say) still is a Drama teacher. Lord knows, he does not know how to run a country, unless it’s “Into the ground”.

  4. Wednesday Feb 12 2024…. first of all you must be recording this from the future and secondly its Monday Feb 12 2024.

  5. What goes down usually comes back up, isn’t it a good time to actually start buying BCE shares while they’re down 30% as of this reply? Economy is on shaky ground, companies starting to lay off, share prices going down etc = shopping time.

  6. Trudeau is an economic genius now. He had been a black face and substitute teacher before becoming PM. Then, he became hindu, muslim, and now he knows how to run a corporation. He knows everything. He must be God.

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