Workforce Cutback at Kuwaiti Zain

Kuwaiti telecoms firm Zain, which sold most of its African assets to Bharti Airtel, has lowered its workforce by 70%, its chief executive said in published remarks. "The group's workforce has been lowered by 70% in light of the new strategy for the group in the next period," Kuwaiti daily newspaper al-Seyassah quoted CEO Nabeel bin Salama as saying on Sunday.

A company spokesman confirmed the report on Sunday, but did not provide more details. In June, Zain and Bharti closed a US$9 billion deal for the Kuwaiti firm's African assets excluding Sudan and Morocco. - Reuters