Bharti says restructuring to have 'minimal impact' on jobs

Mumbai:  Bharti Airtel has said the restructuring exercise in its businesses is expected to have “minimal impact” on jobs. Bharti has pioneered the strategic outsourcing model and created efficiency. “Such initiatives wherever and whenever appropriate will find favour,” the firm said in a statement without elaborating on the restructuring plans. [caption id=“attachment_31494” align=“alignleft” width=“380” caption=“In May, Bharti had reported a fall in the net profit for the fourth quarter. Rupak De/Reuters”] [/caption] Earlier, the Economic Times said Bharti Airtel will merge three separate businesses, which includes mobile, satellite TV, and fixed-line broadband telemedia business. The businesses jointly account for about 90 percent of its revenues. The paper estimated the job losses to be more than 2,000 of the current strength of 11,500 employees. In May, Bharti, in which 32.3-percent owned by Southeast Asia’s biggest phone firm SingTel, had reported a fall in the net profit for the fourth quarter to Rs 1400 crore from Rs 2044 crore in the same period a year ago. In a separate statement, the company said it has crossed the 5 million customer mark in Bangladesh. In Jan 2010, Bharti had acquired 70 percent stake in Warid Telecom, the fourth-largest mobile company in Bangladesh, and subsequently launched its brand in December. Shares of Bharti Airtel on the Bombay Stock Exchange closed 2.55 percent on Friday. Reuters