1 in 4 Shaw Communications employees take buyout

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1 in 4 Shaw Communications employees take buyout

Postby kal » Thu Feb 15, 2018 8:05 am

Shaw Communications signals sunset for the cable TV business.

3000 employees, 1 in 4, take buyout as company ramps up efforts in the mobile communications sector.

http://business.financialpost.com/telec ... ept-buyout[/url]
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Re: 1 in 4 Shaw Communications employees take buyout

Postby jon » Thu Feb 15, 2018 8:32 am

Even in the early days of Outsourcing (end of the 1980s), where some companies gave everyone a buyout even though they had a secure job with the Outsourcer, I don't recall anything this rich for long-serving employees: 3 years salary for those with 30 or more years service. Formula is one month of salary per year of service, plus 6 months.
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Re: 1 in 4 Shaw Communications employees take buyout

Postby kal » Thu Feb 15, 2018 11:30 am

The company will take a $450 million restructuring hit in the next quarter (I think) and then expects to make that up by 2020 and of course add that to the bottom line going forward from there.

Is it indeed the beginning of the end for the cable TV business?

Can Blue Sky save the day? I don't think so.
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Re: 1 in 4 Shaw Communications employees take buyout

Postby tuned » Thu Feb 15, 2018 11:52 am

The cable companies destroyed their own business. As soon as they were allowed to own the channels as well as the pipes they treated the content as a nuisance.
Commercial loads went up dramatically which I believe is the number one reason cable is dying. The second reason is forcing customers to buy channels that they didn't want. Along comes netflix with no commercials and a great selection of content and it's buh bye cable. Not to mention youtube with an endless amount of content. Compare commercial loads on YT with your typical cable show. Utilities like Shaw and Rogers suck at content. Everything they touch turns to garbage. Look what happened when the empty suits at Rogers first got their hands on HNIC. Shaw has figured out it's way less hassle ripping Canadians off for internet and cell phone with a quasi-monopoly. Where is the CRTC is all of this? They give Shaw, Rogers and Bell everything they want except simsub during the Super Bowl which made Bell screech like a newborn baby.
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