Shaw Offering Buyouts to 6,500 Staff
Monday, 5 February 2018
Shaw Offering Buyouts to 6,500 Staff Shaw Communications is launching a massive voluntary buyout program as part of a restructuring the company calls a "total business transformation" that aims to re-focus and streamline its operations.
The cable and telephone company confirmed the restructuring plan in a press release Tuesday after BNN reported the buyouts, citing an internal memo.
In a statement, Shaw said approximately 6,500 employees have been offered the package - including workers at Freedom Mobile which the company bought in 2016.
Shaw may impose further restructuring efforts, including layoffs, after the completion of its buyout program, according to internal documents obtained by BNN.
Tara Weber is a BNN columnist.
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What does this mean for you, the tenant?
- Dependant on how deep the cuts are with Shaw, this could mean that more office space will be put onto the market for leasing or subleasing.
- For the forecasted 650 layoffs, this will mean that approximately 150,000 sq ft of space will become available over the next 18 months. It is also our understanding that with the restructuring, a consolidation of office space may occur. This may mean that more space will come available and further increase the vacancy rate.
- Landlords are making concessions to place tenants into their buildings due to the high vacancy rates in all areas of Calgary.
- This means that you are in the driver's seat when it comes to commercial office leasing for your business!
- CORE Commercial Real Estate does not represent landlords, nor do they have a vested interest in placing you into any particular building.
- We are focused on meeting your needs and can assist YOU in your negotiations for leasing that perfect space for your business.
- Remember, we charge the landlord to exclusively represent YOU!
- Don't have the landlord do both sides of the lease - how can they possibly represent their interests and your interests under one transaction?
- Work with us to negotiate solely on your behalf.
Contact CORE today for a lease that best represents your interests.