BCE/Jim Flaherty to lay off 2500 knowledge workers

Bell streamlines management structure to improve competitiveness

BCE Inc. (TSX, NYSE: BCE) today announced it will reduce the size of the Bell management team as part of an organizational realignment focused on achieving a competitive cost structure.

MONTREAL, Quebec, July 28 2008 -- BCE Inc. (TSX, NYSE: BCE) today announced it will reduce the size of the Bell management team as part of an organizational realignment focused on achieving a competitive cost structure.
The number of management departures at Bell will total approximately 2,500, representing approximately 6% of the total Bell workforce or about 15% of management. These changes include the 30% reduction in executive positions announced on July 11. Combined with other reductions undertaken earlier this year, the changes announced today are expected to provide annualized savings of approximately $300 million.

Jim’s standard answer: ”it’s not my fault”