Call-Net announces layoffs

Call-Net Enterprises Inc. confirmed on Tuesday that it was undertaking a restructuring that would include a workforce reduction of 15 per cent.

In a press release Tuesday the company announced it was implementing a package of initiatives designed to reduce capital and operating expenditures and curb costs.

Randy Benson, senior vice-president and chief financial officer, said that Call-Net was determined and committed to being cash self-sufficient by the fourth quarter of this year, and that means assessing the drivers of cost and capital in various areas of the company.

Call-Net said it was targeting all unnecessary expenditures and costs without impacting customer service or the company’s sales force and it’s 2,400 member workforce will be reduced by 15 per cent primarily in non-customer facing roles by end of year 2001 through a combination of not filling vacancies, normal attrition and by an immediate head count reduction. In addition, capital spending for the year 2001 will be reduced to the $150 million level.

Call-Net, of Toronto, can be reached at http://www.callnet.ca.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

IT World Canada Staff
IT World Canada Staffhttp://www.itworldcanada.com/
The online resource for Canadian Information Technology professionals.

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now