Tata Teleservices Fires 500-600 Employees
Tata Teleservices has fired between 500 and 600 employees to tide over difficult times in the hyper-competitive telecom market.
Pedestrian walks past a store of Tata DoCoMo, a joint venture between NTT DoCoMo Inc. and Tata Teleservices Ltd., in Mumbai. (Image: Getty Images)
New Delhi: Tata Teleservices has fired between 500 and 600 employees to tide over difficult times in the hyper-competitive telecom market.
The lay-offs are across locations, they said, adding that the severance package being offered to the employees impacted by the decision is one month's salary for every year of service.
An e-mail sent to Tata Teleservices did not elicit a response.
Sources in the company said that these are challenging times for the telecom industry.
"What most of the operators including Tata Telservices are doing is workforce rationalisation, to stay competitive in line with the needs of the market," they added.
The telecom operators are facing tremendous pressure on revenue and profitability even as the industry's debt has soared to nearly Rs 4.6 lakh crore.
Tata Teleservices spearheads Tata Groups presence in the Indian telecom market. The company, along with the listed arm Tata Teleservices (Maharashtra) Ltd has presence in 19 telecom circles in the the country.
It offers integrated telecom solutions to its customers across wireline and wireless networks on platforms like GSM, CDMA and 3G.
As per the data of Telecom Regulatory Authority of India (Trai), Tata's mobile subscriber base stood at 51.2 million as on February 28, 2017. The company has nearly 4.4 per cent market share in the country's total mobile subscriber base of more than 1.16 billion.
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