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Wateen Telecom Announces Corporate Restructuring

Wateen Telecom Announces Corporate Restructuring

In its continuing efforts to build a successful converged communications business in difficult, challenging and unpredictable economic circumstances in the country, Wateen Telecom Limited is announcing a strategic realignment of its corporate strategy.  Wateen has undertaken a detailed review of all its businesses. Despite Wateen winning laurels from PTA for Quality of Service, Consumer Choice Award in the internet category and Marketing Association of Pakistan for Wateen corporate re-launch it has been a difficult environment for this industry.  Facing pressure from the adverse effects of the fire incident at the Head Office, increased power shortages, escalating energy prices and a recessionary market, Wateen has decided to restructure the WiMAX business and focus its operations in areas where there is stronger demand.  In its other businesses, Wateen has also instituted cost efficiencies to ensure sustained growth.

The restructuring aims to strengthen the company and help ensure that the this business along with the other successful core divisions are in a position to improve business viability, maximize returns for shareholders, and transform the organization into a highly competitive business entity.

Through this process of realignment of the corporate structure and to achieve cost efficiencies, some staff positions will become redundant.  Wateen intends to utilize the resulting efficiencies to further strengthen all its business units, strengthen the core team and reaffirm its commitment to its shareholders and customers. Customer satisfaction remains Wateen’s utmost priority.

In an email to all employees, Mr. Naeem Zamindar, CEO Wateen Telecom, said, “Every business comes with its share of challenges. Whilst we are sad that many of our esteemed colleagues will no longer be with us, the current restructuring will enable us to align our cost structures, to ensure business sustainability and success. I am confident that by working together in a positive and energetic manner, we will succeed in achieving our vision of transforming the lives of every Pakistani.  Wateen has come a long way since its rebirth and the company has seen much progress in the past year. While WiMAX continues to be a challenge for all operators across the industry, Wateen’s other business lines have shown considerable improvement. The company’s LDI business has grown from being number eight to the second largest player in the industry and the enterprise connectivity and solutions business is prospering.”

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