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M2 to sack up to 150 staff as part of proposed restructure

M2 to sack up to 150 staff as part of proposed restructure

The company is currently consulting staff on its restructuring process

M2 Group is looking to remove up to 150 employees across its consumer and business-to-business (B2B) operations as part of a proposed business restructure.

The move will impact staff across administration (including HR), customer service, provisioning and sales due to what the company claims are duplications accumulated as a result of its acquisitions and growth over the past two years.

M2 executives are currently meeting with staff as part of a consultation process which it expects to conclude within one to two weeks.

“We very carefully consider any change that may affect our team and we enter into the consultation process with the aim of minimising any potential impact on the team and maximising redeployment opportunities,” M2 chief executive officer (CEO), Geoff Horth, said.

M2 offers an employee assistance program in the form of counselling and will emphasise this to existing and outgoing staff.

The figure represents five per cent of the Melbourne-headquartered company’s 3000 staff across Australia, New Zealand and the Philippines.

The move follows a similar restructure six months ago which was restricted to its consumer business.

M2 purchased both telecommunications service provider, Dodo, and Internet services provider (ISP), Eftel, in May last year for a total of $A248 million; the acquisition of Engin came as part of Eftel.

It also bought Primus the year prior for $A192.4m.

Since 2005, M2 has also taken on board Commander Communications, Unitel, People Telecom, Wholesale Communications Group, Tenex, Southern Cross Telecommunications, Orion Telecommunications, and Protel.

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