Bell Canada CEO Mirko Bibic defends job cuts in Commons committee testimony
OTTAWA — As members of Parliament accuse Bell Canada of corporate greed, the head of the company is defending its decision to cut thousands of jobs, citing a shift in Canadians’ viewing habits away from traditional TV.
Liberals, Conservatives and New Democrats grilled CEO Mirko Bibic during often combative exchanges at a meeting of the House of Commons heritage committee on Thursday afternoon.
Parliamentarians had ordered him to appear and answer for the cuts, which affect nine per cent of BCE Inc.’s workforce.
In February, the company announced it was cutting some 4,800 jobs, ending multiple television newscasts and selling off 45 of its 103 radio stations.
“The idea you saw fit to take substantial bonuses and equity packages at a time your workers, employees and journalists could have had their jobs saved is a bit disappointing,” Liberal MP Taleeb Noormohamed told Bibic.
“I think it’s important to think about Canadians, particularly those who subsidized your company for so long.”
Conservative heritage critic Rachael Thomas said it’s “really rich” for a company worth $40 billion that received government subsidies to lay off its workers.
She accused Bibic of evading her questions, saying it made the CEO look “shady.”
“You have not been able to answer a single one of my questions directly today,” Thomas said.
Thomas wasn’t alone.
Several MPs flung colourfully worded accusations at Bibic, including NDP Leader Jagmeet Singh, who appeared briefly to scold the CEO for “choosing greed” over giving consumers “a break” on cellphone fees.
Bibic defended his company, blaming factors like productivity, inflation and delays in the implementation of the federal Online Streaming Act — a new law meant to level the playing field between traditional broadcasters and streaming companies, under which Bell is benefiting from significant regulatory relief.
He told MPs that the media ecosystem in Canada “is in crisis.”
“The industry is in flux due to technological disruption, changing viewer habits, shifting advertiser demand and vigorous competition from foreign web giants who are not subject to the same costly regulations as Canadian broadcasters,” Bibic said.
This report by The Canadian Press was first published April 11, 2024.
Mickey Djuric, The Canadian Press
News Related-
The best Walmart Cyber Monday deals 2023
-
Jordan Poole took time to showboat and got his shot blocked into the stratosphere
-
The Top Canadian REITs to Buy in November 2023
-
OpenAI’s board might have been dysfunctional–but they made the right choice. Their defeat shows that in the battle between AI profits and ethics, it’s no contest
-
Russia-Ukraine Drone Warfare Rages With Dozens Headed for Moscow, Amid Deadly Winter Storm
-
Trump tells appeals court that threats to judge and clerk in NY civil fraud trial do not justify gag order
-
Can Anyone Take Paxlovid for Covid? Doctors Explain.
-
Google this week will begin deleting inactive accounts. Here's how to save yours.
-
How John Tortorella's Culture Extends from the Philadelphia Flyers to the AHL Phantoms
-
Tri-Cities' hatcheries report best Coho return in years
-
Wild release Dean Evason of head coaching duties
-
Air New Zealand’s Cyber Monday Sale Has the 'Lowest Fares of 2023' to Auckland, Sydney, and More
-
NDP tells Liberals to sweeten the deal if pharmacare legislation is delayed
-
'1,000 contacts with a club': Tiger Woods breaks down his typical tournament prep to college kids in fascinating video