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FINANCIAL NEWS
Ooredoo Kuwait cuts 165 jobs
17 Sep 2014
(MENAFN) Ooredoo Kuwait, the Gulf country’s No 3 mobile operator by subscribers, announced it had to cut 165 jobs due its market share shrinking and profits falling, Gulf Daily News reported.
The company, which is 92.1 percent owned by Qatar’s Ooredoo, has struggled in Kuwait following the launch of the country’s third mobile operator, Viva Kuwait, in 2008 which cut prices substantially to draw customers.
Ooredoo Kuwait said it had made the job cuts, which include 60 Kuwaitis and account for about 15 percent of its workforce that amounts to 1.082 people, in order to increase efficiency, serve customers more effectively and simplify the organization.
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