Nearly 1,200 Rogers-Shaw Employees Took Voluntary Exit Packages: Report
After Rogers’ $20-billion acquisition of Shaw, approximately 1,200 employees have departed as part of a voluntary staff exit program aimed at reducing role duplication, according to an anonymous source who spoke to The Globe and Mail.
The departures took effect on July 21, with the source revealing that the tally includes 660 former Rogers and 541 former Shaw employees. These figures represent 3% and 6% of the Rogers and Shaw workforces.
Rogers CEO Tony Staffieri, addressed staff in a memo on Wednesday, stating that a “modest uptake” of the voluntary departure program required the continued elimination of overlapping roles. It was reported back in late June that a number of employees had left prior to the offer of departure packages and further job reductions were expected.
The anticipated job losses following the takeover had sparked concerns among politicians and industry observers, given Rogers’ expected push for efficiencies during its integration with Calgary-based Shaw. The two companies had earlier estimated $1-billion in synergies resulting from the deal.
During Rogers’ Q2 financial results this week, Staffieri indicated that the Shaw integration was ahead of schedule, claiming the company had already realized roughly $48-million of the forecasted $200-million cost synergies for the year.
Despite the ongoing role reductions, Staffieri pledged ongoing recruitment to bolster networks and customer support, emphasizing Rogers’ commitment to creating thousands of jobs over the coming years.
In a bid to secure regulatory approval for the takeover completed in April, Rogers vowed to create 3,000 new jobs in Western Canada within five years and maintain a Calgary headquarters for a minimum of a decade.