Retail

2degrees to lay off 120 staff, slash costs as covid-19 hits revenue

Paul McBeth
Tue, 14 Apr 2020

Two Degrees Mobile will lay off 120 staff as part of a wider cost-cutting drive to offset the decline in revenue brought on by the covid-19 crisis.The country’s third mobile player said it’s working through a range of initiatives to strip out costs and plans to cut its 1,200-strong workforce by a tenth. It’s seeking other savings by cutting its capital spending, putting off non-essential projects, imposing a hiring freeze, and renegotiating supplier rates and vendor costs.“The harsh reality is that we must now take decisive action, reducing sta...

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