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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1256)5/21/2001 12:27:07 AM
From: ms.smartest.person  Read Replies (1) of 2248
 
PCCW Meets Employees to Discuss China Plans; May Trim Staff

May 21, 2001 - 11:42:53 HKT
Quamnet News Service

Pacific Century CyberWorks (0008), Richard Li's communications vehicle, arranged three meetings today to discuss with its staff plans to set up new hotline operations in mainland China, as well as other future plans, according to PCCW's staff representatives.

Li has promised not to cut staff within a year from its takeover of HKT, the former phone monopoly, in August last year, but now there is only three months left, raising worries that a massive layoff may be in the pipeline, said Cheng Chun-man, a spokesman for the Hong Kong Telecom Employees Union, one of the company's three labor unions.

"We want clarification from the management on this matter," said Cheng.

PCCW Chairman Li was scheduled to attend the first of the three meetings today at the Hong Kong Convention and Exhibition Centre at 10:00 a.m. local time, but was 16 minutes late for that meeting. He is supposed to attend the other two meetings, respectively scheduled at 11:30 a.m. and 5:00 p.m.

In the past, PCCW has held major meetings with its staff usually before it announced staff cuts or salary reductions.
quamnet.com
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