BCE, Canada’s largest communications company, announced Wednesday that it will cut 1,300 jobs and close or sell nine of its radio stations as part of a wide-ranging restructuring, largely due to shrinking listenership. .

In an open letter to employees, Bell chairman and CEO Mirko Bibic revealed that the company had an annual loss of C$40 million (€27.7 million) in the information sector and that the loss “continues to growing every year despite our leading position’ in the sector.

The profitability of the group’s radio stations doubled since the outbreak of the new coronavirus pandemic.

Bell Canada also predicts an annual loss of C$250 million in traditional telephony services.

Media revenue, according to BCE executives, is “migrating to foreign digital platforms” such as Google and Meta (Facebook, Instagram), while subscriber and listener numbers are in “permanent decline” as audiences now turn to on streaming platforms.

The company also cites “shrinking advertiser budgets” and “the difficult regulatory environment, which is very slow to adapt” to changes in the media industry.

“To achieve this transformation, we need to align (…) our costs with our potential revenues in each of our business areas,” said Mr Bibitz.

Those that will suffer the heaviest hit are the positions of administrative officers (6%), while the number of senior management will be reduced by 20% compared to 2020.

In addition, BCE will create a single newsroom to increase “collaboration and efficiency” of its media outlets, said Richard Gray, vice president for information.

The group’s offices in London and Los Angeles will close. The one in Washington will see its staff reduced.

Six radio stations, broadcasting from one end of Canada to the other, will close. Another three, in Ontario, will be sold, subject to regulatory approval.