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Maxis shares surge on layoff talk
by hlk Fri 06 Dec 2013, 08:30
PETALING JAYA: Shares of leading mobile telephony service provider Maxis Bhd surged 21 sen to RM7.21 to the top gainers list after renewed market talk of the company’s layoff exercise resurfaced.
According to a report by UOBKayHian yesterday, the company may soon announce another round of retrenchments, following an earlier round in the third quarter that had involved almost 500 staff.
“This time, it would involve half as many staff, most at mid-management level. We retain the view that Maxis’ new chief executive officer, Morten Lundal, would need time to cut bureaucracies that have been holding back the company,” the report by Ong Boon Leong noted.
StarBiz had in August reported, quoting sources, that there would be staff layoffs at Maxis that might see a reduction of between 10% and 15% of its total workforce then.
This follows a massive reorganisation in June, where the company flattened its organisational structure from eight core units and 24 sub-units to four main core units. The four business areas are enterprise solutions, consumer business, sales and services, and digital services
According to a report by UOBKayHian yesterday, the company may soon announce another round of retrenchments, following an earlier round in the third quarter that had involved almost 500 staff.
“This time, it would involve half as many staff, most at mid-management level. We retain the view that Maxis’ new chief executive officer, Morten Lundal, would need time to cut bureaucracies that have been holding back the company,” the report by Ong Boon Leong noted.
StarBiz had in August reported, quoting sources, that there would be staff layoffs at Maxis that might see a reduction of between 10% and 15% of its total workforce then.
This follows a massive reorganisation in June, where the company flattened its organisational structure from eight core units and 24 sub-units to four main core units. The four business areas are enterprise solutions, consumer business, sales and services, and digital services
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