More layoffs in Qatar as Ooredoo Group confirms 100 jobs to go

      Published on Thursday, 3 March , 2016      177 Views     
More layoffs in Qatar as Ooredoo Group confirms 100 jobs to go




Omar Chatriwala

Photo for illustrative purposes only.

In the latest round of layoffs to affect Qatar, global telecoms provider Ooredoo Group has confirmed it is cutting around 100 local jobs as part of a corporate review to “optimize” its operations.

The group, which is headquartered in Doha, employs more than 10,000 staff world-wide and has operations in Algeria, Kuwait, Oman and several other countries. The latest cuts amount to around 1 percent of its global workforce, a spokesperson said in a statement to Doha News.

All the jobs affected are based in Qatar, however no Qatari nationals would be affected in this round of layoffs, the spokesperson said.

The announcement follows a management shakeup in November when Sheikh Saud bin Nasser Al Thani became chief executive, replacing Nasser Mohammed Marafih, who had held the title for nine years.

The reorganization also led to other changes in the company’s senior leadership team. Waleed Mohamed Al-Sayed was appointed deputy group CEO as well as the chief executive of Ooredoo Qatar. Meanwhile, Yousuf Abdulla Al Kubaisi filled Al-Sayed’s old position as Ooredoo Qatar’s chief operations officer.

This reshuffling came in the wake of several disappointing financial quarters.

Corporate review

Before deciding on layoffs, an Ooredoo spokesperson said the company conducted a “review of the organization and strategy” following the appointment of the new management team, which was described as “normal practice.”

“Following the review, we have recognized a number of opportunities to increase synergies across the Group and optimize our operations.

This will involve the phasing out of certain business functions at a Group level, particularly those that were created for the launch of the Ooredoo brand in 2013 and related support activities,” the statement said.

Employees affected will be given the chance to apply for other positions within the group as well as the organization’s local operations.

“As an ongoing review, we are rebalancing our skill sets and resources within the Group and local operating companies to better serve our customers and deliver better returns for our shareholders,” the organization added.

Group profits flat

The company’s confirmation of layoffs emerged as Ooredoo released its 2015 financial results this week.

Lesley Walker / Doha News

Ooredoo Qatar HQ

Within Qatar, the telecom firm posted double-digit gains in customers, revenues and earnings. Its net profit was QR2.14 billion last year, up 11 percent over 2014.

But Ooredoo could not replicate that strong performance outside of its home market. The company’s net profit attributable to shareholders was flat at QR2.12 billion, down 1 percent from 2014.

The company said its results were hurt by the security situation in Iraq as well as adverse currency movements in Indonesia, Algeria, and Tunisia.

Have you been affected by the layoffs? Thoughts?

(The post More layoffs in Qatar as Ooredoo Group confirms 100 jobs to go is from Doha News.)



Source:: Doha News – economy

Keywords:
Category Uncategorized | 2016/03/03 latest update at 2:36 PM
Source : | Photocredit :
178 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Qatar Today would like to give all of its readers from Gulf and Qatar and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Qatar Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Qatar, the Gulf and the world.


Only international actions can settle the world’s ‘enormous and diverse cross-border challenges’, Qatar tells UN Assembly Emir

Only international actions can settle the world’s ‘enormous and diverse cross-border challenges’, Qatar tells UN Assembly

Pointing to “the strategic importance of the Gulf region”, Sheikh Tamim Bin Hamad al-Thani Amir maintained that its stability warrants…

Amir congratulates President of Colombia Emir

Amir congratulates President of Colombia

Amir H H Sheikh Tamim bin Hamad Al Thani, Deputy Amir H H Sheikh Abdullah bin Hamad Al…

Iran’s Rouhani Says Boosting Ties With Qatar A Priority Emir

Iran’s Rouhani Says Boosting Ties With Qatar A Priority

Iranian President Hassan Rouhani described enhancement of relations with neighbors, Qatar in particular, as an indispensable part of…

Amir performs Eid Al Fitr prayer; receives well-wishers Emir

Amir performs Eid Al Fitr prayer; receives well-wishers

HH the Amir Sheikh Tamim bin Hamad Al-Thani performed Tuesday morning Eid Al Fitr prayer with citizens at…

GULF TV

Popular in GULF TV

About DFI

34100 Views

Doha Film Institute is dedicated to film appreciation, education, and building a dynamic film industry in Qatar that…

Latest videos in GULF TV

Events

Qatar Events

Lifestyle

Life

Culture

Culture News

Sport

Sport

Science & Technology

Science & Technology

Government

Government News