They increased their dividend payments by 10%. That’s good news. They recently posted a quarterly net income of $398 million. That’s good news too! Revenues are 3.15 billion this year! Go you home-grown Canadian behemoth!
Then they let go 1500 employees go. 1500!
Audaciously, Telus’ tells us that many of these lay-offs “would be voluntary departures and early retirements”¹, and that it’s expected to save the company $125 million a year.²
Good for you Telus! 1500 households can tank but as long as you accomplished the necessary elements of “growth, customer service and capital allocation activities” then I guess ‘Mission Accomplished’.
The company’s slogan happens to be “The future is friendly.”
Mayhaps, but they’ll never seem my dollars again, hopefully not yours either.
Their world ain’t our world!
Please see the link below and pass it on.
- Post-Script: To make the cost-saving measure seem even more palatable Telus inflated it’s figures-and this will grind the gears of any of its past employees- Firing 1500 and saving $125 mill means each Telus worker was averaging over *83,333 a year. What nonsense!