Daily Archives: May 2, 2017

Tata Teleservices fires 500-600 employees

Tata Teleservices has fired between 500 and 600 employees to tide over difficult times in the hyper-competitive telecom market. As many as 500-600 employees have been impacted by the layoffs in sales and other related functions, two people familiar with the matter said. The lay-offs are across locations, they said, adding that the severance package

Reliance Infratel approves Brookfield merger, to get Rs 11,000 crore in cash

The shareholders of Anil Ambani-driven Reliance Communications’ (RCom) mobile towers arm Reliance Infratel Limited (RITL) have approved the demerger of the RITL into Canada-based Brookfield Infrastructure group. “RITL have approved with 98% majority the Scheme of Arrangement for demerger of the tower division of the RITL into Towercom Infrastructure Private Limited,” the Mumbai-based telco in