Unifor is condemning a round of bonuses at BCE, the parent company of Bell Canada, that saw executives awarded more than $5 million in 2024 – a year that saw the layoff of 4,800 employees and company stock drop by 30%.
Nearly $2.4 million of those bonuses went to CEO Mirko Bibic. Tied to stock awards and performance, that bonus was down nearly 20% from 2023.
“The company laid off thousands, its stock went down by 30% and yet, the richest and most powerful continue to profit off the back of our members,” said Unifor National President Lana Payne, in a statement from the union issued late Wednesday.
The union, which launched its “Shame on Bell” campaign in March 2024, in response to the company’s February 2024 announcement it was eliminating 4,800 jobs – including 800 Unifor members across its telecom and media divisions – says Bell continues to “hollow out” its workforce.
“Amidst this trade war, we need major Canadian companies to invest in good jobs at home and Bell continues to fall short when they should be making a long-term plan on a thriving workforce,” said Payne.
Unifor represents more than 19,000 telecommunications workers at BCE and its subsidiaries, in addition to more than 2,100 members at Bell Media.
A BCE spokesperson told The Globe and Mail earlier this week that “in light of the challenging year for BCE and the telecommunications industry,” Bibic’s target compensation would continue to be frozen at current levels for 2025.
