Canada’s telecom sector not insulated from COVID-19's impact [Toronto Globe and Mail (Ontario, Canada)]
Shaw Communications Inc. (SJR)
Last shaw communications inc. earnings: 4/9 04:30 pm
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Source: Toronto Globe and Mail
Canada’s telecom sector not insulated from COVID-19's impact More signs of trouble emerged in Canada’s telecommunications sector as a result of COVID-19 this week when Shaw Communications announced it would temporarily lay off 10 per cent of its work force despite surging demand for wireless, internet and cable services as Canadians work and entertain themselves from home an effort to combat the pandemic. The Calgary-based company’s announcement late Tuesday, affecting up to 1,000 people, came just days after it provided a cautious but hopeful financial report to analysts and said most of its business was performing well operationally during the crisis – although Freedom Mobile sales had plunged due to store closures. “Our network upgrades over the past few years have put us in a solid position to handle increased traffic,” Shaw president Paul McAleese said in a statement, repeating a message delivered last week. Shaw’s move follows Quebecor’s announcement last month that it would tem
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