FILE PHOTO: Darren Entwistle, President and chief executive officer of Telus Corporation, will deliver his address to the shareholders at the annual general meeting in halifax, canada, May 9, 2012. REUTERS/Dan Riedlhuber/File Photo
(Reuters) – Telus Corp, it would cut 5,000 jobs and C$1 billion worth of investment over the next five years, the Canadian mobile operator will be forced to slash prices by 25%, or even to open its network to wireless resellers in The Globe and Mail reported, tgam.ca/39JGaRY on Thursday.
Chief Executive Darren Entwistle’s comments came as the Canadian telecoms regulator began public hearings on the increase of competition and decrease the cost of your cell phone plan, as the case may be, require that the country has one of the world’s top three wireless service providers to grant access to their networks to other companies.
The hearing, held by the Canadian Radio-television and Telecommunications Commission (CRTC) in Gatineau, Quebec, is also aimed to investigate whether or not the market is ready for 5G, and it adequately serves Canadians.
Three companies dominate the canadian telecom industry. BCE Inc’s Bell unit, Telus Corp., Rogers Communications and 89.2% of the mobile subscriber market, according to the latest figures from the end of 2018.
Telus was not immediately available for comment outside of regular business hours.
Reporting Juby Babu in Bengaluru; Editing by Sherry Jacob-Phillips