Telecommunications giant, Digicel, is cutting staff by 25-percent, globally.
The company made the announcement this morning, as part of what it says is its Global Transformation Programme, ‘Digicel 2030’.
The workers will be cut over the next 18 months.
However, it hasn’t said how many jobs in Jamaica will be affected.
Digicel’s Head of Group Public Relations, Antonia Graham, sounded rehearsed as she confirmed the development to Nationwide News this afternoon.
Ms. Graham instructed our news centre to e-mail any questions.
However, the emailed response did not answer our question of how many Jamaican jobs would be cut.
Ms. Graham denied that the job cuts are an indication that Digicel is in financial trouble.
However, the announcement comes three months after the company’s executives pitched a plan to investors to cut its debt ratio by one-third by March, 2019.
The plan, dubbed ‘Project Swan’, was similarly presented as a transformation at Digicel.
At a conference in London in December, credit research firm CreditSights advised bondholders to sell some of their holdings in Digicel, as it said the company was in serious financial trouble.
When Nationwide News contacted Ms. Graham in December last year, she insisted the company’s outlook remained positive.
But the telecoms company is said to be USD$6.5-billion in debt. That’s more than Jamaica’s national budget.