Cabletel – Eurocom to cut 220 jobs
Cable operator Cabletel – Eurocom gave the boot to 220 executive, administrative and operating staff following the merger between Cabletel and Eurocom and the subsequent restructuring, the firm said. The downsizing leaves the new entity with 1,386 people on the payroll. Podkrepa union said 300 employees were sacked without notice on December 17. The company brushed off the figure but admitted people were laid off without notice on that date. Cabletel - Eurocom said it is ready to pay off all compensation. In end-October, Swedish private equity group EQT announced that its UK-based fund EQT V had gobbled up 100% of Eurocom and 70% of Cabletel.