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Tata Communications Cuts 300 Jobs

January 25, 2013 | Telepresence Options

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By Rumman Ahmed, Total Telecom

Restructuring results in $12.5 million charge.

Tata Communications Ltd. Thursday said it has cut 300 jobs globally as part of a business restructuring exercise, resulting in a one-time charge of about 670 million rupees ($12.5 million).

The restructuring exercise in the October-December quarter was part of an initiative to "enhance the long-term efficiency of the business," the company said as part of a filing related to a planned overseas bond issue.

Tata Communications, listed in Mumbai and New York, provides video conferencing suites and operates undersea cables.

Click here to find out more!The company has been in the red for some time, hurt by a crash in bandwidth prices after a slew of alliances between telecom companies launched their own undersea cables, leading to excess capacity.

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