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Tata Teleservices removes 500 employees
TT Correspondent |  |  02 May 2017

Tata Teleservices has fired about 500 employees, reports PTI.

The layoffs are across locations. The severance package being offered to the employees is one month's salary for every year of service.

The lay-offs comes at a time when the telecom industry has been witnessing an intense tariff war triggered by the entry of Reliance Jio, whose disruptive positioning in the market has left most of the telcos bleeding.

The telecom operators are facing tremendous pressure on revenue and profitability even as the industry's debt has soared to nearly Rs 4.6 lakh crore.

According to the data of Telecom Regulatory Authority of India (Trai), Tata's mobile subscriber base stood at 51.2 million as on February 28, 2017. The company has nearly 4.4 per cent market share in the country's total mobile subscriber base of more than 1.16 billion.

    
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02 May 2017(IST)  
Anritsu
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