The estimated 300 job cuts will mainly affect non-customer facing functions, the company said, adding that on-going natural attrition and tighter management of contractor roles will result in additional roles being made redundant. The company, which also provides pay TV services, had 2,500 employees as of end-2017.
SINGAPORE: Singaporean telecom operator StarHub Ltd
The estimated 300 job cuts will mainly affect non-customer facing functions, the company said, adding that on-going natural attrition and tighter management of contractor roles will result in additional roles being made redundant.
The company, which also provides pay TV services, had 2,500 employees as of end-2017.
Competition in Singapore's mature telecom sector is heating up, with Australia's TPG Telecom
"Technological innovation and competition are redefining how we deliver services to our customers and we at StarHub need to transform our operating model, otherwise we will face greater risks in the future," StarHub CEO Peter Kaliaropoulos said in a statement.
StarHub expects savings of S$210 million ($152.7 million) over a three-year period from 2019 from the revamp, which includes other measures such as reducing leasing costs and sales and distribution expenses.
It estimated a one-off restructuring cost of about S$25 million ($18.2 million).
The news comes just days after Singapore conglomerate Keppel Corp
Malaysia's Axiata Group Bhd
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