eircom to axe 10% of workforce in 3 years

pwd · 13-03-2007 10:36am #1

Irish shown door

Babcock & Brown Capital is ringing the changes in the emerald isle.
The listed cashbox plans to axe 700 jobs - about 10 per cent of the workforce - at Ireland's No.2 telecommunications company, Eircom, over the next three years.

Babcock executive Rob Topfer has said the main focus for Eircom - in which the cashbox has a 57 per cent stake - will be to raise its share of the mobile market in Ireland from about 15 per cent to as much as 25 per cent within the next five years.

http://www.smh.com.au/news/business/doh-mind-the-share-price-gap/2007/03/12/1173548107636.html?page=2

penexpers · 13-03-2007 11:12am

Eircom has been cost-heavy for years and still is. Most of those 700 job losses will be ex-P&T workers who will get a decent redundancy package.

pwd · 13-03-2007 11:31am

what's P&T in this context?

tHE vAGGABOND · 13-03-2007 11:32am

Most of those 700 job losses will be ex-P&T workers who will get a decent redundancy package

..most of them have prolly not done a good days work in years either

kaizersoze123 · 13-03-2007 11:33am

Postal & Telegraph

penexpers · 13-03-2007 12:30pm

pwd wrote:

what's P&T in this context?

Postal and Telegraph, from back in the days when the telecoms was done by An Post. They are civil servants and still retain alot of the perks of that, such as defined benefit pension, privilege days, flexi-time etc. To the owners of Eircom they are the most expensive kind of worker to have, and it's worth taking the hit of a good redundancy package to offload these workers now, rather than keep them emploted for the next 15-odd years which is what alot of ex-P&T's have left until they reach retirement age.

orangen · 13-03-2007 1:52pm

The listed cashbox plans to axe 700 jobs - about 10 per cent of the workforce - at Ireland's No.2 telecommunications company, Eircom, over the next three years

If Eircom's the No. 2 telecommunications company in ireland, what's No. 1?

loyatemu · 14-03-2007 10:38am

bah - when I was working there, former P&T employees were walking out with 100k+ redundancy deals. In many cases they were subsequently taken back on as contractors.

I begged them to make me redundant, begged them! But sadly I was doing useful work for a reasonable salary so they wouldn't.

Stephen · 14-03-2007 10:58am

I'm playing the world's smallest violin for them :rolleyes:

eircom to axe 10% of workforce in 3 years

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