(Reuters) - Canada’s Shaw Communications Inc will offer about 6,500 of its employees voluntary departure packages, the wireless service provider said on Tuesday, as it seeks to cut costs.
Shaw, which had about 14,000 employees, expects about 650 employees will accept the packages.
Calgary-based Shaw hopes the move will sharpen the company’s focus on online and smartphone-based services.
Shaw has ramped up spending in recent months to sign up more wireless and internet subscribers amid fierce competition with Rogers Communications, BCE Inc and Telus Corp.
Shaw’s shares rose about 1 percent on Tuesday afternoon on the Toronto Stock Exchange.
Reporting by John Benny in Bengaluru; Editing by Sai Sachin Ravikumar