Maroc Telecom looks to cut costs
MOROCCO| July 13, 2012, 8:06 a.m.
Maroc Telecom, part of troubled Vivendi Group, is looking to cut costs and improve margins through a voluntary redundancy programme.
The telco is reported to be seeking to cut around 11% of its workforce – or up to 2000 jobs – in line with its parent company’s attempts to streamline operations and boost flagging profits.
Recently, the Chairman and Chief Executive of Vivendi, Jean-Bernard Lévy, stepped down after a disagreement with the company’s board.
Another telecoms subsidiary, France’s SFR, said it planned to cut costs by USD552 million this year and another USD500 million next year.
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