When you are a company like Rogers, your competitors come from multiple fronts – print, radio, TV, Internet and wireless. Rogers not only face competition from the incumbents, Bell and TELUS, but not a new group of wireless players have entered the market (WIND Mobile, Mobilicity, Public Mobile) and each are nipping at the feet of the giant Rogers Communications. Their last quarterly earnings were not what they expected, and had announced shortly after that cuts were coming. Today, that axe has come down as Rogers announced 367 jobs would be cut from various lines of business, but we had already seen some other trimming a few months ago as Rogers Media shut down 8 of its media properties.
Rogers will announced their second quarter earnings on July 26, so we’ll have to wait and see how their balance sheet looks then.
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