Hong Kong's Hutchison to cut 750 jobs at mobile telephone business

0 Comments | AFP, January, 2005

HONG KONG (AFP) — Hong Kong conglomerate Hutchison Whampoa said it will cut 750 jobs at its mobile telephone business in a bid to trim the company's operating costs and generate savings.

The ports-to-telecoms conglomerate controlled by tycoon Li Ka-shing said it will cut 270 jobs at Hutchison Telecommunications International (HTIL) and ask 480 other employees to join outsourcing firms or the Hutchison Group.

HTIL chairman Canning Fok said the move will help the company save 250-300 million Hong Kong dollars (32.00-38.50 million US dollars) a year and help it weather a difficult operating environment.

HTIL has arranged an outsourcing scheme with NEC of Japan and Hewlett-Packard that will begin on January 10 and last for five years.

Hutchison Whampoa...