Telus International, which offers AI data crunching, chatbots and digitized back-office services, is doing less business than it expected amid “persistent global macroeconomic pressures” that have customers cutting their spending, it announced. Telus, the parent company, now expects its own operating revenue to grow by 9.5 to 11.5 per cent in 2023, revised down from 11 to 14 per cent. (The Logic)

Talking point: Telus International is cutting staff and “driving further automation and generative AI enabled solutions” to reduce costs, chief financial officer Vanessa Kanu said in a statement. The company still expects to lose $7 million to $10 million this quarter. Telus is not due to release its next results until August but leavened its announcement with positive numbers from its wired and wireless services, saying that segment had its strongest second quarter for customer growth ever. Even so, Telus shares fell about five per cent and Telus International’s plunged more than 30 per cent.