Bloomberg News

Moscow City Telephone May Cut 6,000 Jobs by the End of 2010

June 26, 2007

OAO Moscow (MGTS) City Telephone, the dominant fixed-line phone company in the Russian capital, may cut its staff by 6,000 employees by the end of 2010 as it switches from an analogue network to a digital network.

Moscow City Telephone may cut the number of employees to 10,000 from 16,000 at present, according to the press department of parent OAO Comstar United Telesystems. Comstar Chief Executive Officer Sergei Pridantsev today met with analysts to announce preliminary plans.

Moscow City Telephone has more than 3.6 million fixed-line subscribers and more than 42 percent of its network is digitalized. Comstar is investing $350 million this year on development including digitalizing the Moscow network.

Pridantsev joined Comstar, which controls Moscow City Telephone, as its CEO on June 13.

To contact the reporter on this story: Lyubov Pronina in Moscow at lpronina@bloomberg.net

To contact the editor responsible for this story: Lars Klemming at lklemming@bloomberg.net


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus