Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Telco Trim

April 07, 2009 (LBO) – Sri Lanka's top celco, Dialog Telekom says it had offered a voluntary retirement scheme to employees as part of a broader cost-cutting exercise, but the total costs were not known as yet. Dialog Telekom, a unit of Telekom Malaysia, as well as other operators have had revenues and profits hit by a raging price war.

The costs of the scheme would be published with the next quarterly statement, the firm said in a stock exchange filing.

Responding to a media report which said the firm was looking to shed 1,500 staff, Dialog said the firm has not "published or specified" a target and costs would depend on the number of employees accepting the scheme

The scheme was applicable to all employees in the executive and management grades, the company said.