Some 1,500 jobs to go in Maroc Telecom by Vivendi

Some 1,500 jobs would be eliminated in Morocco Telecom by Vivendi Analysts said the project could generate savings of at least 300 million dirhams (27 million euros) based on job losses from 1,500 to 2,000 for a total  work force of 13,700 employees.

"The project will cover mainly activities in Morocco and it is primarily intended to persuade employees near retirement to leave," said a source close to the company.

"Morocco Telecom is implementing a wider strategy for Vivendi to reduce costs. Moroccan telecom market is now mature, so operating costs must be reduced to protect the interests of shareholders," commented a Casablanca analyst. "Salaries are by far the largest expenditure item of Morocco Telecom and the downsizing plan should allow Morocco Telecom to maintain its net margin of 40%," he said, reported by the media.Layoffs and will cover 1500 to 2000 people on a total workforce of 13,700 people, to "improve margins."

THe net profit of Morocco Telecom fell 15% in 2011 to 8.1 billion dirhams, for a turnover of 30.8 billion, down 2.5%.Vivendi also announced job losses in France where the group has SFR. The reason given was the arrival of Free Mobile.