MobilCom cuts jobs, halts network build

ITworld.com –

Germany's debt-laden MobilCom AG said Friday it will cut around one-third of its staff and halt plans to build a 3G (third-generation) mobile communications network in a bid to stay afloat.

The company plans to cut 1,850 of its workforce of over 5,000, and to freeze its 3G network construction plans but retain the license, it said in a statement.

By restructuring its core mobile resale business, MobilCom expects to save

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