KCOM chops 150 as integration business slides
KCOM is ditching 150 staff from its Integration and Managed Services business after revenues at the unit slipped by ten per cent.
The telecoms company - formerly Kingston Communications - said in an interim statement that the nine months ending December 31 had seen continued improving performance at its Telecoms and Internet business, which contributed to a year on year increase in operating and pretax profits before exceptions.
However, things were not so chipper at the integration and managed services business, which faced a "challenging" trading environment. This together with the "ongoing economic uncertainty" had led to the 150 job losses.
The job cuts, and other cost cuttings, should help the firm return to overall net profitability before exceptions in its final quarter, KCOM said.
This will leave it in "in a stronger position to deal with the current challenging trading conditions". ®