Eircom job cuts as revenue falls

EIRCOM is to make more job cuts, over the next three years, in light of management identifying the need for further cost reductions.

The former state-owned telecommunications company yesterday posted an 8.5% fall in annual revenue — to €1.8 billion — for the 12 months to the end of June; a result hindered by an 8% fall in fourth quarter revenue to €440 million.

Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) came in at €669m for the year, a figure which was 3.3% — or €23m — below the 2009 full-year amount.