[July 29, 2008] INDEX:Advisories, Business, Telecom, Labour Tweet (Broadcast News Via Acquire Media NewsEdge) MONTREAL _ Bell Canada (TSX:BCE) plans to cut 2,500 jobs, or six per cent of its workforce as the telecom giant streamlines management to lower operating costs. The changes announced today include a 30 per cent reduction in executive jobs revealed earlier this month. Together, the cuts will help save about $300 million in annual costs. The Montreal company says non-management front-line service employees won't be affected by the restructuring, the first major move by new CEO George Cope. Bell is being privatized by an investment group led by the Ontario Teachers Pension Plan Board and several U.S. partners _ a $52 billion deal which is the biggest takeover in Canadian history. The transaction is expected to close in December. Bell faces stiff competition from cable TV companies such as Rogers, Shaw and Videotron for its wireless and data businesses. Copyright ? 2008 The Canadian Press [ Back To TMCnet.com's Homepage ]