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Telenor to slash 2,000 jobs in India
Norway's Telenor will cut 2,000 jobs - over 11 percent of its 17,500-strong India workforce - as part of a cost-cutting drive and reallocation of resources in the run-up to participating in the upcoming 2G airwaves auction. The largest Nordic mobile operator plans to cut its India workforce by scaling down GSM operations in four regions - Tamil Nadu, Kerala, Karnataka and Odisha - out of the 13 zones where it is commercially active in its bid to unlock and reallocate funds to more profitable regions, amid the continuing policy uncertainty on the sale of 2G airwaves. The latest restructuring of its Indian unit would help it achieve cash-flow break-even before end-2013.
Source: Economic Times
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