Telecom giant Rogers Communications offering buyouts to nearly half of workforce

Added: 2026-05-05

[00:00:00]Our Mackenzie Gray joins us now from Ottawa. So Mackenzie, what have you learned?

[00:00:04]>> A senior source within Rogers Communication, Jeff has confirmed to global news that the company has launched a widespread voluntary buyout program for nearly 10,000 employees, including in their internet, wireless, and cable divisions. But the sports and media sides, plus their unionized employees, are not included. Rogers, which employs nearly 25,000 people, benefits from substantial federal protections in the telecommunications field. But they, alongside Bell and Telus, control over 80% of the telco business in Canada. But even then, Rogers has long said that that side of the business is less lucrative compared to other ventures, promising they would cut capital spending by roughly 30% this year, blaming government regulations. In a statement, Rogers told Global News they're taking steps to adjust their cost structure to reflect the current business environment. Markets have generally been pleased with Rogers recent moves. Their stocks up 40% year-over-year, and they made $438 million in the first quarter alone. In 2025, they added nearly a thousand new employees, largely due to becoming the majority owners of Maple Leaf Sports and Entertainment, the parent company of the Toronto Maple Leafs and Raptors. They also own 100% of the Toronto Blue Jays, whose run to the World Series saw their media revenues substantially increase.

[00:01:19]But their media expenses are also going up big time with a new NHL national TV deal set to kick in next season costing 11 billion over 12 years. Jeff, double the past price.

[00:01:31]>> Mackenzie Gray in Ottawa. Thanks.