Tata Teleservices has fired between 500 and 600 staff to tide over troublesome occasions within the hyper-competitive telecom market.
As many as 500-600 staff have been impacted by the lay offs in gross sales and different associated capabilities, two individuals familiar with the matter mentioned.
The lay-offs are throughout areas, they mentioned, including that the severance package being provided to the staff impacted by the choice is one month’s salary for yearly of service.
An e-mail despatched to Tata Teleservices didn’t elicit a response.
Sources within the company mentioned that these are difficult times for the telecom business.
The telecom operators are going through great pressure on income and profitability even because the business‘s debt has soared to just about Rs 4.6 lakh crore.
Tata Teleservices spearheads Tata Group’s presence within the Indian telecom market. The company, together with the listed arm Tata Teleservices (Maharashtra) Ltd has presence in 19 telecom circles within the the nation.
It provides built-in telecom options to its prospects throughout wireline and wi-fi networks on platforms like GSM, CDMA and 3G.
As per the information of Telecom Regulatory Authority of India (Trai), Tata’s cell subscriber base stood at 51.2 million as on February 28, 2017. The company has practically 4.4 % market share within the nation‘s complete cell subscriber base of greater than 1.16 billion.