NZ's Telecom to slash around 1,000 jobs to cut costs

WELLINGTON (Reuters) - Telecom New Zealand on Thursday said it would cut around 16 percent of its workforce as part of a major restructuring plan to reduce its costs by up to NZ$110 million. Telecom said it expected to cut full-time employees to 6,300 to 6,600 by mid-year, from 7,530 at the end of 2012 as the country's dominant telecommunications firm struggles to compete in the broadband market while its business operations suffer. ...



via Tech News Headlines - Yahoo! News http://news.yahoo.com/nzs-telecom-slash-around-1-000-jobs-cut-205958514--finance.html