PSINet Europe mulls jobs cull
PrintBegins strategic review
Posted in Business, 8th August 2002 15:38 GMT
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Workers at PSINet Europe will have an anxious wait over the next eight weeks following the ISP's decision to begin a strategic review of the company.
PSINet Europe declined to speculate about job losses until after the review, but it seems likely that jobs will be lost as the company attempts to streamline its business following its purchase last month by ClearBlue Technologies and Israel Corporation.
PSINet Europe comprises37 separate companies and this number is set to be slashed to less than ten following the restructuring.
Other areas which could be targeted include the duplication of internal processes and the company's property portfolio.
PSINet Europe currently employs 520 staff.
Today, the company confirmed that eight staff in Switzerland had been made redundant.
In December 2001 PSINet axed 55 jobs in a bid to turn it into a profitable business. ®
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