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Canada's Manitoba Telecom to cut 25 percent jobs, slashes dividend

Canada's Manitoba Telecom to cut 25 percent jobs, slashes dividend

(Reuters) - Canadian telecoms company Manitoba Telecom Services Inc said it would cut jobs by 25 percent as part of a strategic review.

The company, which has struggled with tough competition, also said on Thursday that it would slash its annual dividend to C$1.30 per share from C$1.70.

Manitoba also said it planned to reduce its capital expenditure by 20-30 percent.

(This story corrects the second paragraph to remove an extraneous word)

(Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Kirti Pandey)