CEO Osman Sultan says telecom operator has shed 'tens' of jobs as part of streamlining
United Arab Emirates telecom company Du said it had shed "tens" of jobs as part of months of restructuring, its CEO told reporters on Tuesday.
"Streamlining an organisation means that you find pockets of efficiency and some positions have been made redundant ... I triggered this process in April/May last year," Osman Sultan said.
The company's financial performance has been under pressure since late 2014 as the pace of growth in the mobile market is unable to keep up with the increasing royalty rates paid to the government.
Sultan also said the government had yet to notify EITC of the royalty rate for 2017.
Earlier on Tuesday, Sultan saiid Emirates Integrated Telecommunications Co (EITC), the holding company for du, will launch Virgin Mobile as a new brand in the UAE.
EITC will have full ownership, management and operation of the Virgin Mobile brand in the country, Sultan told a news conference, adding that services under the brand would start "within weeks" and focus on a consumer customer base.