Rogers Communications is offering voluntary departure packages to roughly 10,000 employees as the telecom giant moves to reduce costs amid slower industry growth and changing market conditions.
The company confirmed that selected teams across business units and corporate functions are eligible for the program. Employees who qualify can choose a buyout package or retirement option as Rogers looks to reshape its workforce without immediate mandatory layoffs.
In a statement, the company said it is adjusting its cost structure to reflect current business realities. Rogers added that the voluntary departure and retirement programs are designed to give some employees the opportunity to either remain with the company or begin a new chapter elsewhere.
Not all staff are affected by the offer. Unionized employees are excluded from the program, along with several specialized groups. Those not included include on-air talent, workers involved in Sportsnet productions, and employees at Maple Leaf Sports & Entertainment and the Toronto Blue Jays.
The move comes as major telecommunications companies continue facing pressure from slower subscriber growth, rising costs and increased competition across wireless, internet and media services.
Industry observers will now be watching how many employees accept the packages and whether additional restructuring measures follow later this year.