Aircel plans to cut 700 Jobs

The entire exercise is being aimed at reducing duplication of human resources with the possible merger with Reliance Communications (RCom)

Ahead of the proposed merger with Anil Ambani- led Reliance Communication, Aircel is planning to to give pink slips to 10 per cent (700)of staff across in the country.

Currently, Aircel has 8000 employees.

Aircel goes for jobcut

"This would be the first lot of people who have been given around a week's time since last Friday to agree with the company's compensation package, which includes full month's salary in February and basic pay of the following six months," a source close to the development in Aircel told TOI.

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According to a source, the entire exercise is being aimed at reducing duplication of human resources with the possible merger with Reliance Communications (RCom).

However, Aircel said that, "The referred news report is speculative and misleading. We would like to emphasize that amidst all that is happening in the sector, our focus is to build a profitable company, keeping the best interest of our customers and people."

Last year in September, Reliance Communications announced its with Aircel. The deal is worth Rs 65,000 crore ($9.7 billion) wherein the shareholders of both will look to create a merged entity with both companies holding a 50 per cent stake each.

RCOM is also in process of getting approvals for merging the MTS brand under it.

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