Telecoms firm to axe 250 jobs

Irish firm Smart Telecom is to cut its staff by 250 following a review of its business, it was confirmed today.

Last week, the telecoms company said around 100 staff were to be let go but further redundancies were expected when the strategic review was completed.

The company’s staff numbers are being reduced from around 348 to about 100.

Smart Telecom stated it would be exiting low margin businesses and ensuring a substantial reduction in other costs.

The company’s chief executive Ciaran Casey said: “The decision by key investors to support the new strategy is very positive news for our customers, staff and other stakeholders.

“I am very satisfied with the outcome of the strategic review and I believe that the review will bring Smart very quickly to a cost base appropriate to our revenues and will reposition the company for growth within broadband and corporate services.

“In the two weeks since the strategic review was announced, we have implemented major change in the company. Significant challenges remain but we can move forward from this point with renewed optimism.”

The company will be selling off a number of non-core businesses, such as payphones and pre-paid call cards, over the next few months.

Smart has around 17,100 residential broadband customers and 160 corporate customers and is operating through 34 telephone exchanges around the country. It also has a number of metropolitan area networks (MANs), built by the Government in an effort to develop broadband coverage.