MTS Allstream reduces Manitoba workforce by another 325

WINNIPEG – MTS Allstream is reducing its Manitoba workforce by up to 325 positions as part of its ongoing cost reduction program. The telco has announced a voluntary reduction program for employees, which will cost the company from $20 to $25 million in buyouts. It will result in a one-time charge to income of about $0.19 to $0.24 per share in the fourth quarter of 2006. The move is expected to save the company about $22 million a year. The announcement will have no effect on MTS Allstream’s 2006 financial outlook for continuing operations, the company said. Last November, MTS...