Quad-play communications group Go says there has been an "encouraging" response to its third voluntary retirement scheme in 30 months, its last effort to 'right-size' the company by offering employees attractive packages to leave.
This latest scheme opened in July and could run until May. About 300 employees had subscribed to the previous two schemes.
Go, which rebranded in 2007, currently has 1,350 full-time staff on its books, mostly inherited from its predecessors in title Telemalta Corporation and Maltacom.
Should a similar number of employees subscribe to this latest scheme, that would still leave it with three times the workforce of the competition: Melita and Vodafone employ 300 people each.
Over the past few months, a string of senior managers and top officials have left Go, including the chief commercial officer.
"The voluntary retirement scheme is supported by the General Workers' Union and all employees have been given full details," a Go spokesman said. "The scheme is open to employees of Go plc (formerly Telemalta Corporation/Maltacom) who have a minimum of 15 years' service with the company. The response so far has been encouraging and the company expects more employees to show interest in the scheme in the first three months of next year."
The spokesman confirmed that under the latest scheme voluntary retirees could benefit from payouts of up to €60,000.
"Go has opened the scheme over a long period of time to allow employees who are interested to obtain assistance on pensions, alternative employment and re-training.
"Go is seeking to continue in its process of becoming a leaner organisation with increased efficiencies, and with a clear direction of maintaining its leadership of the quad-play communications market.
"This is also in view of the overall worldwide economic situation and the increased local competitive environment. By right-sizing the organisation, Go is ensuring its sustainability, especially in the fixed line business."
The spokesman added that the company has implemented organisational changes which have helped it to operate as one organisation across all business lines - fixed line, mobile telephony, broadband Internet and TV.
"This generous scheme is the last effort by the company to right size the organisation on a voluntary basis, after which, the company will not launch any further schemes," the spokesman said.
In its financial statements for the year ended December 31, 2007, the company and its subsidiaries employed just over 1,470 full- and part-time and seconded employees. Wages and salaries amounted to just under Lm12 million (€27.9 million).
Go announced profits of €1 million for the first half of 2008, €11 million down from the corresponding period the year.
The results were attributed to an €11.8 million provision for pensions after a court judgment mandated the company to set up a pension scheme effective January 1, 1975 for employees that Telemalta Corporation had taken over from Cable and Wireless. Group turnover amounted to €64.2 million, up 1.6 per cent.
This latest scheme opened in July and could run until May. About 300 employees had subscribed to the previous two schemes.
Go, which rebranded in 2007, currently has 1,350 full-time staff on its books, mostly inherited from its predecessors in title Telemalta Corporation and Maltacom.
Should a similar number of employees subscribe to this latest scheme, that would still leave it with three times the workforce of the competition: Melita and Vodafone employ 300 people each.
Over the past few months, a string of senior managers and top officials have left Go, including the chief commercial officer.
"The voluntary retirement scheme is supported by the General Workers' Union and all employees have been given full details," a Go spokesman said. "The scheme is open to employees of Go plc (formerly Telemalta Corporation/Maltacom) who have a minimum of 15 years' service with the company. The response so far has been encouraging and the company expects more employees to show interest in the scheme in the first three months of next year."
The spokesman confirmed that under the latest scheme voluntary retirees could benefit from payouts of up to €60,000.
"Go has opened the scheme over a long period of time to allow employees who are interested to obtain assistance on pensions, alternative employment and re-training.
"Go is seeking to continue in its process of becoming a leaner organisation with increased efficiencies, and with a clear direction of maintaining its leadership of the quad-play communications market.
"This is also in view of the overall worldwide economic situation and the increased local competitive environment. By right-sizing the organisation, Go is ensuring its sustainability, especially in the fixed line business."
The spokesman added that the company has implemented organisational changes which have helped it to operate as one organisation across all business lines - fixed line, mobile telephony, broadband Internet and TV.
"This generous scheme is the last effort by the company to right size the organisation on a voluntary basis, after which, the company will not launch any further schemes," the spokesman said.
In its financial statements for the year ended December 31, 2007, the company and its subsidiaries employed just over 1,470 full- and part-time and seconded employees. Wages and salaries amounted to just under Lm12 million (€27.9 million).
Go announced profits of €1 million for the first half of 2008, €11 million down from the corresponding period the year.
The results were attributed to an €11.8 million provision for pensions after a court judgment mandated the company to set up a pension scheme effective January 1, 1975 for employees that Telemalta Corporation had taken over from Cable and Wireless. Group turnover amounted to €64.2 million, up 1.6 per cent.