Management changes at Rogers Communications this week is extending beyond the senior level management changes we’ve seen in recent weeks. According to The Toronto Star, cuts are now extending to the vice-president level and middle management levels. The restructuring is all part of new CEO Guy Laurence’s Rogers 3.0 vision for the Canadian media and telecommunications giant.
Rogers confirmed the cuts in a statement:
“As part of the restructuring we have reduced the number of Vice President and above positions by 15 percent and several hundred middle management positions have also been eliminated across the company. These decisions are never easy. The goal is to become a more nimble, agile organization with much clearer accountabilities.”
The Financial Post added that a number of top editors at the Rogers Publishing division as the company makes changes to its magazine lineup.
The company plans to reinvest any savings into areas like training and systems “to better serve our customers.”
The cuts were not unexpected as Lawrence had warned back in May when he unveiled his Rogers 3.0 plan that job losses were coming as the company realigns itself to the new priorities set out.
Rogers Communications will announce its Q2 financial results later this week. It reported flat revenues and a a decline in profits in Q1.
Sources : The Toronto Star // The Financial Post