SingTel layoffs part of a lean and mean strategy?

A renewed focus on core competencies seems to be the driving force behind its new 500-staff retrenchment.

"In Singapore today SingTel was in the spotlight after announcing it was laying off around 500 staff as part of a restructure. But they will be offered jobs at a Chinese sub-contractor to SingTel instead," IG Markets reported in its evening update.

"It is part of a strategy by Southeast Asia’s biggest telecoms firm to make itself more nimble as it looks to become a leading multimedia content provider," it said.

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