Latest Telepresence and Visual Collaboration News:
Tata Communications Cuts 300 Jobs
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.
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.
Add New Comment
Telepresence Options welcomes your comments! You may comment using your name and email (which will not be displayed), or you may connect with your Twitter, Facebook, Google+, or DISQUS account.
See what happens when YouTube and TPO come together at the Telepresence Options YouTube Channel.