Cable & Telecom

MTS Allstream to wring another $100 million from cost structure, cutting up to 800 jobs

WINNIPEG – Over 750 employees will be let go in early 2006 as part of a multi-faceted push to cut costs at MTS Allstream. Calling it the “Transition Phase II Plan” which will “position the company to grow profitably in the rapidly changing telecommunications industry,” the Winnipeg-based provincial telco - and CLEC when outside of Manitoba through its Allstream division - announced today it “is targeting a minimum of $100 million in expense savings over the next two years,” in the press release. "We have a long tradition of successfully capitalizing on change at our company," said CEO Bill Fraser,...