Maltacom

Type
Internal restructuring
Country
Malta
Region
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications
750 jobs
Number of planned job losses
Job loss
Announcement Date
3 October 2006
Employment effect (start)
2 October 2006
Foreseen end date
31 December 2009

Description

Maltacom, the leading provider of telecommunications and related services in Malta, announced that as a reaction to the many requests by various employees, a new voluntary early retirement scheme was introduced. Applicants could apply for the scheme until the end of October. Through such a retirement scheme Tecom Investments Ltd, the major shareholder of Maltacom, aims to achieve 300 lines per employee. For this to be achieved, between 175 and 225 employees are expected to accept the scheme every year for the next three years, and 75 employees in 2009.

Sources

  • 9 October 2006: The Times of Malta
  • 3 October 2006: L-Orizzont
  • 3 October 2006: The Times of Malta

Citation

Eurofound (2006), Maltacom, Internal restructuring in Malta, factsheet number 64250, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64250.