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February 14, 2003 — (WEB HOST INDUSTRY REVIEW) — Communications carrier TELUS Corporation (TELUS.com) announced on Friday that it has released its financial results for the fourth quarter of 2002, reporting continued improvements in cost structure through the implementation of the Operational Efficiency Program at TELUS Communications.
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According to TELUS, the Operational Efficiency Program at Telus Communications is ahead of schedule in its driving of expense reductions. The program resulted in a reduction of the company’s workforce by 2,500 during the fourth quarter and 5,200 since 2001.
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Revenue for TELUS communications declined by $148 million to $1.3 billion, largely due to a $112 million charge as a result of regulatory decisions and a $54 million decrease in local, long-distance and other revenue, says the company.
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“2002 has been a year of tremendous challenges for the telecom industry generally and TELUS
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specifically,” said Darren Entwistle, president and CEO of TELUS. ?It was also a year of tremendous accomplishment at TELUS as reflected in our annual results, which demonstrate continued strong financial and operational performance at TELUS Mobility and accelerated progress in the efficiency program at TELUS Communications.”
