HK PRESS: PCCW May Divest Non-Core Assets, Won't Cut Jobs
Updated: Friday, October 19, 2001 11:03 PM ET
HONG KONG (Dow Jones)--Pacific Century Cyberworks (PCW, news, msgs) plans to divest of its non-core assets in a bid to cut costs but doesn't expect to cut more jobs, the company's chairman Richard Li said, according to Saturday's South China Morning Post.
Speaking on the sidelines of the Asia Pacific Economic Cooperation forum in Shanghai, Li said the company has no plans to cut more jobs, the Post reported.
Earlier this month, PCCW closed an online advertising unit, AdSociety, resulting in 100 job losses. This followed 340 job cuts at its multimedia content unit, Network of the World, in July.
-By Dow Jones Newswires; (852) 2802 7002; djnews.hong kong@dowjones.com DOW JONES NEWS 10-19-01 11:03 PM |
