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Whoa, this bunch are so lucky.
They don't have to work anymore for Singtel under Chua Sok Koong, with all the coverage problems.
Instead they get 3.5 month retrenchment benefits, but most of all get to work for this wonderful PRC company
All the other Singtel staff must be damn jealous and hoping that China Mobile - THE LARGEST PHONE COMPANY IN THE WORLD - will buy out Singtel
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1190202/1/.html
SINGAPORE : SingTel is outsourcing jobs at home and is reportedly also cutting staff at its Australian unit Optus.
SingTel said in a statement that about 500 of its Singapore workers will be offered employment at Sino Huawei Technologies, after that company was appointed to operate SingTel's copper-based voice and data network.
That deal takes effect from June 1 and is for an initial five-year period.
SingTel, whose earnings have suffered in recent quarters from increasing costs and a slump at its Indian business Bharti Airtel, said the move is in line with restructuring efforts to transform from a carriage-based telco to a multimedia company.
Most of the Singapore-affected staff are from the multi-point distribution service department.
Channel NewsAsia understands that employees who have worked at least 25 months with SingTel will each be compensated with a salary payout of 3.5 months.
Most of the affected staff whom Channel NewsAsia spoke to were pleased with the compensation.
SingTel said there will be no change to their existing roles, responsibilities, remuneration and benefits.
Meanwhile, SingTel's Australia unit Optus said on Tuesday that it is likely to cut jobs as it reviews its local operations.
Reports speculate that some 700 jobs will be removed.
Sachin Gupta, Head of Telco Research Asia ex Japan at Nomura, said: "Cost cutting is a natural transition that a lot of telcos are currently reviewing because margins come under pressure, and these are some of the costs that telcos are watching closely.
"And if you recall what SingTel (has) done over the past three weeks, (it has) actually restructured (its) business along the consumer line, the digital line and the ICT."
- CNA/ms
They don't have to work anymore for Singtel under Chua Sok Koong, with all the coverage problems.
Instead they get 3.5 month retrenchment benefits, but most of all get to work for this wonderful PRC company
All the other Singtel staff must be damn jealous and hoping that China Mobile - THE LARGEST PHONE COMPANY IN THE WORLD - will buy out Singtel
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1190202/1/.html
SINGAPORE : SingTel is outsourcing jobs at home and is reportedly also cutting staff at its Australian unit Optus.
SingTel said in a statement that about 500 of its Singapore workers will be offered employment at Sino Huawei Technologies, after that company was appointed to operate SingTel's copper-based voice and data network.
That deal takes effect from June 1 and is for an initial five-year period.
SingTel, whose earnings have suffered in recent quarters from increasing costs and a slump at its Indian business Bharti Airtel, said the move is in line with restructuring efforts to transform from a carriage-based telco to a multimedia company.
Most of the Singapore-affected staff are from the multi-point distribution service department.
Channel NewsAsia understands that employees who have worked at least 25 months with SingTel will each be compensated with a salary payout of 3.5 months.
Most of the affected staff whom Channel NewsAsia spoke to were pleased with the compensation.
SingTel said there will be no change to their existing roles, responsibilities, remuneration and benefits.
Meanwhile, SingTel's Australia unit Optus said on Tuesday that it is likely to cut jobs as it reviews its local operations.
Reports speculate that some 700 jobs will be removed.
Sachin Gupta, Head of Telco Research Asia ex Japan at Nomura, said: "Cost cutting is a natural transition that a lot of telcos are currently reviewing because margins come under pressure, and these are some of the costs that telcos are watching closely.
"And if you recall what SingTel (has) done over the past three weeks, (it has) actually restructured (its) business along the consumer line, the digital line and the ICT."
- CNA/ms
