Eircom boss anticipates no further job cuts

Mike Dwane

Reporter:

Mike Dwane

Eircom CEO Richard Moat
EIRCOM CEO Richard Moat anticipates no further job cuts at the telecoms operator, saying the company has turned a corner after exiting examinership.

EIRCOM CEO Richard Moat anticipates no further job cuts at the telecoms operator, saying the company has turned a corner after exiting examinership.

He was speaking after addressing Limerick employees at the Pery Hotel.

Eircom announced 2,000 redundancies as part of a cost-cutting drive in 2012 but Mr Moat said the company’s 143 staff in Limerick and 3,400 around the country need fear no further job losses.

“Obviously we have had a substantial reduction in headcount over the last couple of years through voluntary leaving schemes but now we are the right size and I anticipate we are going to continue to be that size for some time to come,” Mr Moat said after briefing Limerick staff.

Staff in Limerick are involved in areas like repair and maintenance and IT support while a number are also helping develop the company’s TV product.

“One of the things we are launching in the middle of the year is multi-screen, being able to watch TV on your mobile, iPad and on your laptop and that is being developed here in Limerick,” he said.

Eircom is in the middle of investing hundreds of millions in its fibre network and has plans to enable 66 centres around the country - including Limerick and Shannon - with 1GB broadband speeds in the coming months.

For a company that had €1.8 billion in debt written off in 2012, Mr Moat stressed the current investment was coming from its own resources.

“We haven’t raised any more debt and the money we are investing in the networks - which is substantial and of the €1.5 billion we started two and half years ago, we have spent about €900 million - all of that has come from the cashflow of the business. It hasn’t come from banks. We live within our means, including capital expenditure.”