TELKOM JOB CUTS 3 108

Finweek English Edition - - THE WEEK -

The num­ber of peo­ple who have agreed to leave Telkom as part of its plan to cut jobs and lower costs, cost­ing the telecom­mu­ni­ca­tions firm R1.5bn. Telkom, which is in talks to buy mo­bile op­er­a­tor Cell C, saw its rev­enue in­crease by 1.2% to R13.5bn in the six months to end Septem­ber, while head­line earn­ings per share were down 65% to 69.9c. Telkom’s own mo­bile arm saw rev­enue in­crease by 41% to R1.2bn, and it expects the unit to break even on an EBITDA (earn­ings be­fore in­ter­est, tax, debt and amor­ti­sa­tion) ba­sis by the end of the fi­nan­cial year.

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