Regional Brazilian operator Sercomtel announced a voluntary layoff plan with the aim to reduce its 456 staff by 50%, as part of urgent plans to reduce massive debt and ensure the survival of the company.
Local newspaper Folha de Londrina reported, newly appointed president and director of operations for parent company Bordeaux Fundo de Investimento, Marcio Tiago Arruda, said the company owes BRL20 million ($3.7 million) to regulator Anatel, BRL30 million to city hall and BRL150 million in taxes to the state. It hopes to save up to BRL25 million from staff cuts.
Helio Costa, the board of directors president, told the newspaper the measure was vital to Sercomtel’s survival and laid off staff will be properly compensated.
Arruda told Folha de Londrina the move was an initial step to recommence growth in the business and pledged there will be investments but the company needs to readjust its scale.
Sercomtel was acquired by Bordeaux Fundo de Investimento for BRL130 million last year.