Facing more tough competition and lower profits, Rogers cuts 375 jobs

Rogers Communications Inc. (TSX:RCI.B) will eliminate 375 jobs, a move that comes as the wireless, cable and Internet provider cuts costs in the face of lower profits and tougher competition on all fronts.

The staff reduction is part of a cost-cutting strategy announced earlier this year and include employees in the business, wireless, and cable and Internet divisions. They follow 300 job cuts announced in March.

The latest downsizing covers a variety of skills and includes some management and sales positions, Rogers spokeswoman Patricia Trott said Tuesday.

“Going forward, we’re managing costs where it makes sense but we’re continuing to invest in driving the business forward and obviously we have a focus as well on driving revenue, new sources of revenue,” Trott said.

“This is sort of Part 2 of our cost cutting initiative that we announced earlier.”

Rogers hopes to get increased revenues from its mobile banking initiative, devices connected to its wireless network such as parking meters, appliances and machines and other business services.

“Again, a difficult day for everyone but we’re really focused in the future on alternative revenue sources and driving the growth of the business,” Trott said.

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