Bell cuts 4,800 jobs, sells dozens of radio stations amid media shakeup
February 09, 2024
About one in ten (9%) employees with Bell are now without work after its parent company made cuts Thursday, owing to government and regulatory decisions that undermine the industry.
Among the cuts include 45 regional radio stations, multiple television newscasts and other programs that will affect 4,800 employees. The closure follows annual losses of $40 million, courtesy of declining demand and revenue from their media provisions.
The parent company axed 1,300 media jobs last June in a bid to "significantly adapt" how it delivers the news.
"We continue to face a difficult economy … that undermines investment in our networks, fails to support our business in a time of crisis, and fails to level the playing field with global tech giants," reads an open letter by Mirko Bibic, President and CEO of Bell Canada Enterprises.
The telecom behemoth reported a 23% decline in fourth-quarter profits, reported True North. They project upwards of $200 million in savings this year through restructuring measures.
Bell executive vice-president and chief legal and regulatory officer Robert Malcolmson said last summer they could no longer wait for regulatory reform after losing $80 million since 2022.
"We are horizontally combining the news production function so that you have one common platform serving news to the relevant outlet from one management team," he told CP24 News.
An internal memo said consolidating costs would allow for "greater collaboration," representing a 6% reduction in Bell Media's workforce. Corporate management positions also received similar cuts, with one-in-five executive roles also receiving the axe.
"The job reductions are consistent with but smaller than similar reductions announced by other leading technology and media companies across North America in recent months," said Bibic.
"We have a responsibility to our shareholders and employees to ensure the business can be positioned for future growth, which means we have to make our cost structure make sense," added Malcolmson.
Other service reductions include the closure of 107 The Source stores across Canada.
Bell is also raising its wireless phone plan prices this month, as previously reported by True North. A prior open letter by Bibic confirmed they could lose at least $250 million in legacy phone revenues annually.
Of notable concern is a recent CRTC decision against the company that provides third party resellers access to its high-speed fibre network before recouping its multi-billion-dollar investment.
Last November 6, Bell announced it would reduce network investments in excess of $1 billion in fiscal year 2024/25, including $500 million following the decision.
As a result, the company has rolled back its planned fibre network expansion from nine to 8.3 million locations, disproportionately impacting Western Canada. It puts "access to high-speed fibre Internet at risk for millions of Canadians in rural, suburban, and urban communities," they said.
Bell has since filed for an appeal of the decision in Federal Court, which remains ongoing.
https://www.rebelnews.com/bell_cuts_4800_jobs_sells_dozens_of_radio_stations_amid_media_shakeup
RFK Jr.: I’m Creating A New Political Party
Feb 9, 2024
In some states, the fastest way to get me on the ballot is by creating a new party. That’s why our campaign has filed paperwork for new parties in the six states where I can secure ballot access faster by getting on the ballot as a new party’s nominee, rather than as an individual candidate.
I’m calling my party We The People, which represents all of us out there demanding our country back and serves as a reminder that our government draws its power from the citizens. And so it isn’t really a party—it’s a movement. And it doesn’t belong to Washington. It belongs to you.
Go to
https://kennedy24.com/we-the-people
to find out how you can help put my name on the ballot.
https://www.youtube.com/watch?v=cusFvojxEFM
Mining company finds 2.34 BILLION tons of rare earth minerals in Wyoming!
February 9, 2024 at 2:06pm
Much of today's high tech, for computer, automobile, communications and military applications, requires ingredients called rare earth minerals.
They are not widely available and China, with an estimated 44 million metric tons of resources, has been the source for some 95% of those components used around the world.
That makes the U.S. dependent on an unfriendly Communist regime for significant advances in its technology.
But that could be changing, as a report in the Daily Mail reveals that a mining company has announced the discovery of "more than 2.34 billion metric tons" in Wyoming.
"American Rare Earths Inc announced that the reserves near Wheatland dramatically surpass the Asian nation’s 44 million metric tons, saying it 'exceeded our wildest dreams' after drilling only about 25 percent of the property," the report said.
It explained the results come from the company's stake in hundreds of mining claims across 6,320 acres of land in the Halleck Creek Project, in southeastern Wyoming not far from Nebraska and Colorado, as well as mineral leases on another 1,844 acres of the Cowboy State Mine.
Already confirmed are minerals like neodymium, praseodymium, samarium, dysprosium and terbium.
Such are used in smartphones, hybrid vehicles, military applications and more.
For example, the report noted magnets made from neodymium "are used in hard disc drives and mobile phones, while praseodymium is used in high-strength alloys in aircraft engines. Dysprosium is used to make control rods in nuclear reactors, and terbium is used in low-energy lightbulbs and mercury lamps."
Company CEO Don Swartz said China wants "market dominance," but the issue now is "a race."
https://www.wnd.com/2024/02/mining-company-finds-2-34-billion-tons-rare-earth-minerals-wyoming/