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Dublin: 4°C Tuesday 26 January 2021
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Eircom to axe 1000 more jobs as the company announces a drop in revenues

Eircom’s revenues are down 11 per cent for the first three months of the year. 1,000 jobs will go over the next two years via “exit schemes”.

Eircom has lost a total of 8,000 mobile customers in the first quarter of the year
Eircom has lost a total of 8,000 mobile customers in the first quarter of the year
Image: Dave Thompson/PA Wire/Press Association Images

EIRCOM HAS RELEASED a disheartening statement to accompany news of a drop in revenues.

The company has announced a drop of 11 per cent for the first quarter of the year and says that “the economic and competitive environments are unlikely to improve in the near term” reports Breaking News.

1,000 jobs will be lost at Eircom over the next two years. 1,500 have already left voluntarily.

Eircom has lost 9,000 broadband customers, gained 14,000 bill pay mobile customers, but lost 22,000 pre-pay users. Revenues for mobile customers fell by 17 per cent in the first three months of the year.

RTE reports that Eircom is likely to breach agreements with its lenders within the next three months. Chief executive Paul Donovan says that discussions with lenders and shareholders will have to be accelerated in order to deal with any breaches.

Eircom says that fewer customers, customers spending less money and reduced mobile termination rates are among the factors contributing to its woes.

About the author:

Emer McLysaght

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