Rogers offers buyouts to about 10,000 employees in cost-cutting push

Rogers has confirmed it is offering voluntary buyouts to about 10,000 eligible employees as it seeks to lower costs and cut capital spending.

Rogers Communications Inc. is offering voluntary buyouts to about 10,000 eligible employees as the telecommunications, media and sports company moves to lower spending.

The company confirmed the offers to CBC News on Monday, saying the programs are being made available to some workers in selected teams across business units and corporate functions. Rogers did not say how many employees it expects to accept. In its 2025 annual report, the company said it employed about 25,000 people.

"We are taking steps to adjust our cost structure to reflect the business realities of the current environment," Rogers said in a statement. "As part of this, some teams have chosen to offer voluntary departure and retirement programs to give some employees the choice to decide whether they'd like to stay with the company or begin a new chapter."

The buyout offer follows Rogers' quarterly report last week, in which the company said it plans to reduce capital spending by 30 per cent compared with last year. The company cited a "punitive" regulatory environment and competitive pressures.

Not all employees are eligible. CBC reported that on-air talent, Sportsnet employees at Rogers Sports and Media, Toronto Blue Jays employees and unionized workers are excluded from the buyout program.

The move comes as Rogers continues to operate after its $26-billion acquisition of Shaw Communications, a deal finalized in August 2023. Federal approval of that transaction included conditions requiring Rogers to maintain a Calgary headquarters for at least 10 years and create 3,000 new jobs in Western Canada within five years of closing, then maintain those positions until the deal's 10th anniversary. Rogers reaffirmed that commitment in its most recent annual report, CBC reported.

Patrick Horan, senior portfolio manager and principal at Agilith Capital, told CBC the decision was not surprising for a company he described as highly leveraged and not growing quickly. He said Rogers needs to reduce operating costs to improve cash flow, adding that employees are a major expense.

On an investor call last week, chief financial officer Glenn Brandt said he expected "some restructuring costs," partly tied to the reduction in capital spending.

Rogers shares closed Monday at $49.85, up 1.2 per cent from Friday's close. The immediate question now is how many eligible workers choose to take the offer and how the company balances cost reductions with commitments made under the Shaw deal.