HTIL to lay off over 1,100 employees

6 Jan 2005

Hutchison Telecommunications International (HTIL) has announced that it will cut 1,160 staff from its payroll in a bid to reduce operating costs. 750 employees will go from the group’s Hong Kong operation, with a further 260 going in Thailand and 150 in Israel; the redundancies will save the company up to HKD300 million a year. The cutbacks are in part being blamed on a November 2004 decision by Hong Kong regulator OFTA that reduced the spectrum allocated to HTIL for its CDMA network by two thirds and opened the way to grant new licences. HTIL helmsman Canning Fok has been vocal in his opinion that Hong Kong already has too many wireless licensees; as it stands the territory is home to six wireless network operators which between them have eleven operating licences.

Hong Kong, CK Hutchison, Hutch (Thailand), Hutchison Telecommunications International Ltd (HTIL)