Telecom seeks as much as $110M in annual savings from cutting up to 1,230 jobs

Wed, 27 Mar 2013

By Paul McBeth March 28 (BusinessDesk) - Telecom Corp, which today launched its new services over the ultrafast broadband fibre network, wants to strip out as much as $110 million in annual costs by cutting up to 1,230 jobs. The country's biggest phone company plans to reduce staff numbers to between 6,300 and 6,600 from 7,530 by the middle of this year through a sinking lid hiring policy, outsourcing and redundancies, it said in a statement. Telecom expects to face restructuring costs of between $70 million and $80 million this year, and wi...

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