BRIEF: Hot Mobile fears wave of layoffs
Jan 02, 2013 (Globes - McClatchy-Tribune Information Services via COMTEX) --
Employees at Hot Mobile Ltd. fear a wave of layoffs at the carrier, following the delisting of its parent company Hot Telecommunication Systems Ltd. The company's management denies the rumors.
Rumors have been making the rounds at Hot Mobile that it might be operationally merged with Hot Telecommunications, because as a private company, it will be easier for its owner, Patrick Drahi, to merge the companies' businesses.
Formally, the two companies must be kept separate, which is the position of the Ministry of Communications, but this is a dead letter in practical terms, and the companies are extending their collaboration ahead of turning Hot into a unified telecommunications company.
Employees are talking about mergers in the financial, personnel, logistics, customer service, and other departments. There are apparently no plans to merge the companies' engineering departments at this time. Sources inform "Globes" that Hot Mobile's management has been asked to draw up streamlining plans this year, which may be the source of the employees' fears.
Hot said in response, "There are no plans for sweeping layoffs."
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