Saturday, August 24, 2013

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Educomp starts cost optimisation; cuts 3,500 jobs

Education solutions provider Educomp Solutions today said it has cut 3,500 jobs in the last three months and has also initiated measures to spur growth.

"Educomp has announced a slew of measures aimed at putting the company back on a growth trajectory at a time when market sentiment is adversely impacting bottom lines across industry and has pushed the education sector into negative growth territory," it said in a release.

The plan entails modifications in structure, systems and sales strategies to return the firm to profitability in the current and following fiscal. Within this transformational plan, a series of tactical steps have been identified to fast-track the correction, it added.
Source: IndiaTimes

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