Ukrtelecom reduces workforce following privatisation

26 Apr 2011

Ukrainian incumbent PSTN operator Ukrtelecom, which recently completed its privatisation to Austrian private equity investors, has begun a process of large-scale redundancies, having already dismissed 4,400 employees in the first quarter of this year, local news source Kommersant reports. Owner Epic intends to further reduce expenses by closing loss-making services, including local fixed telephony in certain areas, and legacy services such as telegraph, it announced at a press conference.

Ukraine, Ukrtelecom (incl. TriMob)