Canadian telco and media firm Bell Canada is to cut 4,800 jobs.

The cuts are expected to impact around nine percent of the group's total workforce, which currently sits at 44,600.

Bell Canada
Bell Canada is cutting jobs – Getty Images

Bell Canada Enterprises (BCE), Bell's parent company, announced the cuts during its 2023 financial earnings report last week.

It appeared to blame declining performance in its legacy business as a reason for the job cuts.

"As our business is hampered by regulatory decisions that discourage investment, we are slowing the pace of our network expansion and capping fiber speeds," said the company in a statement.

"We intend to reduce capital expenditures by over $1 billion over the next two years, including a minimum $500 million year-over-year decrease in 2024 alone."

The restructuring plans are the largest at the company in "nearly 30 years," it added, with cuts expected to occur at several levels, including hundreds of journalists.

BCE did not disclose how many jobs will go within its telecoms division.

Bell has around 13 million mobile subscribers across the country.