TORONTO — Rogers Communications Inc. says it found $48 million in cost savings in its most recent quarter after closing its deal to buy Shaw Communications…
Those drops reflected an ongoing increase of approximately $500 million in quarterly depreciation and amortization from the assets acquired in the Shaw merger, the company said.
“Overall, in these first 15 weeks, we’re tracking ahead of our integration targets and we continue to be impressed with the quality and commitment of the Shaw team.” Revenue for the period grew 30 per cent to $5 billion in the most recent quarter, up from $3.9 billion in the previous second quarter, fuelled by the company adding 170,000 net postpaid mobile phone subscribers. That’s up 39 per cent from 122,000 last year, which Rogers said was a result of sales execution and customer satisfaction in a growing Canadian market.
Rogers’ monthly churn for net postpaid mobile phone subscribers was 0.87 per cent in the quarter, up from 0.68 per cent last year.Article content In an internal memo to staff earlier this month, Staffieri announced Rogers is offering voluntary departure packages to some employees as it seeks to reduce overlap in roles following the Shaw merger. The memo said those eligible include “most corporate and line of business employees” up to the senior director level of the company, while most employees in customer-facing jobs are ineligible.
On Monday, the CRTC ruled in a final offer arbitration proceeding between Quebecor and Rogers, which was requested by the companies just days after the former’s Videotron subsidiary acquired Freedom Mobile from Shaw as a requirement of Rogers’ takeover.
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