Telus, a business services firm based in Canada, has announced plans to cut 6,000 jobs across its global operations. This decision comes after the company reported a second-quarter profit that fell short of analysts’ estimates. Of the total job reductions, 4,000 will occur at Telus itself, while the remaining 2,000 will be made at Telus International.
Telus International, which acquired VoxPro in 2017, currently employs over 2,000 people in Cork and Dublin. Its global operations employ more than 76,000 individuals. While the company has not yet specified where the job cuts will be made, it has stated that the reductions will include offers of early retirement and voluntary departure packages. It is worth noting that Telus International has already made job cuts at its Cork operations earlier this year.
The Department of Enterprise has confirmed that it received collective redundancy notifications related to potential redundancies at Telus International on three separate dates between February and May 2023. Additionally, another collective redundancy notification was received on 20 July 2023 in relation to potential redundancies at Voxpro Limited, trading as Telus International Limited.
Telus has stated that, due to the scale of this job reduction program, it expects to make incremental restructuring investments of up to $475 million (€323 million) in 2023. However, the company also anticipates that these measures will result in cumulative annual cost savings of over $325 million (€221 million).
This news of job cuts at Telus has raised concerns about the impact on the workforce in Cork and Dublin, where Telus International has a significant presence. The company’s acquisition of VoxPro was seen as a positive development for the region, with hopes of increased employment opportunities. However, these job reductions may have a detrimental effect on the local economy and the affected employees.
The Irish government will need to monitor the situation closely and explore ways to support those who may lose their jobs as a result of these cuts. It is crucial to ensure that alternative employment opportunities are available and that affected individuals receive the necessary support and resources to transition into new roles.
The news of Telus’ job cuts serves as a reminder of the challenges faced by businesses in an increasingly competitive and evolving global market. Companies must continuously adapt to changing market conditions and find ways to remain profitable. Unfortunately, this often involves making difficult decisions, such as reducing the workforce, to streamline operations and cut costs.
As the situation unfolds, it is essential to keep a close eye on the impact of these job cuts on Telus’ global operations and the affected employees. The company’s quarterly earnings report indicates that it expects significant cost savings from this restructuring program, but it remains to be seen how these measures will ultimately shape the future of Telus and its international operations.