Irish telecoms company, Digicel will cut over 1500 jobs in a restructuring that will likely have an impact on operations here and across the Caribbean.
According to a report in last Thursday’s Irish Times, the restructuring is aimed at overhauling the debt-laden business.
The report said that the Bermuda-based company hired consultants in December to aid it in cutting a €6.2 billion debt, which credit analysts had described as “unsustainable”.
Last Thursday, Digicel announced a restructuring that involves cutting 25 percent of its workforce, Digicel employs about 6,000 people, meaning the company is looking to cut about 1,500 staff.
Under its Digicel 2030 transformation, the company will undertake a complete re-design of its organisation structure. This will begin with the offer of an enhanced voluntary separation programme, opening on 1 March 2017.
The future organisational structure will comprise a small number of regional hubs – two for the Caribbean and Central America regions and two for the Pacific region – housing back-office centralised functions and delivering shared services, the group said.
The company said it has invested over $1.65 billion in upgrading its networks and platforms and rolling out broadband fibre over the last three years. Its total of 120,000 customers is “well ahead” of its business plan, it said.
It has operations in 31 markets in the Caribbean, Central America and South Pacific.