‘Tough but necessary’: Indosat cuts 677 jobs to boost efficiency

first_imgThe company’s total revenue rose by 12.4 percent year-on-year (yoy) during the same period to Rp 18.9 trillion, while total costs dropped 4.2 percent to Rp 17.3 trillion.  The company’s stocks, traded at Indonesia Stock Exchange with code ISAT, plunged 2.38 percent on Monday, while the bourse’s main gauge, the Jakarta Composite Index, was stable, closing up 0.01 percent.Irsyad said the job cuts, albeit tough, would improve the company’s performance. They would also help Indosat remain competitive amid serious disruption and optimize its services to provide a better customer experience.Throughout the first nine months of 2019, the company recorded Rp 1.29 trillion in employee cost, down 23.35 percent yoy. The employee cost accounted for 7.42 percent of the company’s total expenditure during that period.Securities firm Jasa Utama Capital equity analyst Chris Apriliony said the reorganization could have a positive impact on the company’s finances and help the company achieve a profit.“However, the company would need [more time] before seeing a positive impact [of the layoffs] in its financial performance,” he told the Post by text message.In the meantime, he believed the company could book a profit in the short term, albeit temporary, thanks to last year’s tower sales. In October, Indosat had sold 3,100 telecommunication towers to two local communication tower operators, PT Dayamitra Telekomunikasi (Mitratel) and PT Profesional Telekomunikasi Indonesia (Protelindo), for Rp 6.39 trillion. Indosat then leased back the towers for 20 years from the two buyers.Meanwhile, Indosat workers’ union head of public relations and media Ismu Hasyim told the Post on Monday that most of the laid-off employees were from the network operations division.Read also: Indosat sells 3,100 telecom towers for Rp 6.39 trillion“About 200 people who were laid off came from that division, because the company said it would outsource [the employees’ tasks] to other companies,” he said, adding that he suspected such a strategy was taken following the sales of its telecommunication towers last year.Ismu also said some of the laid-off employees had opted not to take the package for personal reasons. However, others refused the package completely as they rejected the company’s decision on the job cuts.“More than 102 of them have come to us, and we [the workers’ union] are helping them communicate with the management,” he said.Aside from providing a severance package, Irsyad said, the company was also working to provide opportunities for the laid-off employees to continue working for its partner companies.However, it seems not all of the affected employees knew about the offer, and Ismu said all of them had yet to receive a written agreement on the offer.“Some of them did receive a verbal offer, but I told them there’s no formal offer if there’s no written agreement,” he said. He went on to say that the privately-owned company was taking a fair approach in line with the prevailing laws and regulations and offered a better compensation package than required by law.Read also: XL Axiata sales towers to improve efficiency, reduce costsAs of Friday, around 80 percent of the impacted employees had accepted the package, he said.  The publicly listed company booked a loss of Rp 284.6 billion (US$20.8 million) in last year’s first nine months, a stark improvement compared to the Rp 1.5 trillion loss recorded in the same period in 2018. Telecommunication service provider PT Indosat has taken a further step to improve its financial state through the layoff of almost 700 employees in recent days.In a statement obtained by The Jakarta Post over the weekend, Indosat director and human resources chief Irsyad Sahroni said the company was laying off 677 employees as part of changes to its organizational structure to be more agile and focus on customers and market demand.“We have thoroughly reviewed all possible options and have reached the conclusion that we must take this tough but necessary action to be sustainable and grow,” he said.center_img Topics :last_img read more

Friday people roundup

first_imgPensions and Lifetime Savings Association, NEST Corporation, VNO-NCW, AP3, Riksbank, BMO Global Asset Management, Legal & General Investment Management, Towers Watson, Pensions Akademie eV, KAS Bank, JS-Financial Service & Consulting, Aviva Investors, Société Générale, Friends Life Investments, Deutsche Asset & Wealth Management, GAM, IC SelectPensions and Lifetime Savings Association – Tim Gosling has been appointed policy lead for defined contribution pension funds. He joins from NEST Corporation, where he was most recently senior account manager, overseeing pensions policy for the organisation. Earlier this month, Luke Hildyard was appointed policy lead for stewardship and corporate governance. The UK pension association hired Hildyard to fill the vacancy left by Will Pomroy, who left for a role at Hermes Investment Management.VNO-NCW – Hedda Renooij has been appointed secretary for pensions policy at employer industry organisation VNO-NCW. As of 1 January, she will succeed Ap Fraterman, who is to retire after eight years in the job. Renooij comes from employer organisation AWVN, where she has been working as a pensions adviser, focusing on communication and the new financial assessment framework (nFTK). She is a member of two working groups of the Social and Economic Council (SER) looking into the future of the Dutch pensions system.AP3 – The external management team has recruited Veronica Wahlberg as portfolio manager. She leaves her position at the Riksbank, Sweden’s central bank, where she worked in the Monetary Policy Department and in the Markets Department. Wahlberg has also worked at Ålandsbanken and Kaupthing Bank within manager research and selection. BMO Global Asset Management – Max Peacock has been appointed LDI portfolio manager, while Arthur Stroij has been appointed LDI Solution Structurer. Peacock joins from Legal & General Investment Management, where he was on the LDI portfolio construction team. Stroij joins from Towers Watson, where he was an investment consultant in the structured solutions team.Pensions Akademie eV – Frank Vogel, managing director at KAS Bank’s German branch, and Jürgen Scharfenorth, chief executive at JS-Financial Service & Consulting, were named chairmen of the newly founded Pensions Akademie eV in Germany. Representatives from the pension industry, politics and academia formally established the think tank this week to discuss issues related to occupational pensions. It will focus particularly on administration and transparency in occupational pensions.Aviva Investors – Ahmed Behdenna has been appointed senior multi-asset strategist. He joins from Société Générale, where he was a senior strategist within the multi-asset research team. Marc Semaan has also been appointed a multi-asset strategist, joining from Friends Life Investments, where he was a macro strategist.Deutsche Asset & Wealth Management – Matthew Lamb has been appointed co-head of alternatives coverage in the Global Client Group. Lamb will co-head the team with Gianluca Muzzi, who steps into the role in addition to his existing responsibilities as co-head of real estate for Europe. He joins from GAM, where he was head of institutional and wholesale distribution for the UK and Middle East and global head of multi-asset sales.IC Select – The fiduciary manager and investment-consultant evaluation company has appointed Carole Ryden as a director. She is a Fellow of the Institute and Faculty of Actuaries and an active member of their governing body the IFoA Council. She is also deputy leader of the Scottish Board of Actuaries.last_img read more

Quote of the day!

first_img“We believe same sex marriage to be homophobic – it demands recognition for gay relationships, but at the price of submitting those relationships to heterosexual definition.”Roger Scruton and Phillip Blod – ResPublica Think Tank (UK)published on ABC Australia http://www.abc.net.au/religion/articles/2013/02/04/3682721.htmlast_img

Another rebel surrenders, seeks to live peaceful life

first_img“But he and other recruits were surprised to be handed out guns for tactical offensives against government troops,” said Batara. Batara promised to assist in Botoy’s enrollment to the government’s Enhanced Comprehensive Local Integration Program (E-CLIP) where the latter could avail himself of assistance from the local government unit of Tubungan through the integration program dubbed “Project ROKIT”. Batara commended Botoy for his bravery and determination to have a peaceful life. The 61IB appealed to other rebels to follow Botoy’s example. “With the support of local government units we will continue to encourage the remaining rebels to lay down their arms and give peace a chance,” said Batara. “Botoy’s longing for a normal life with his family gave him the courage to abandon the armed struggle,” according to Lieutenant Colonel Joel Benedict Batara, commanding officer of the 61IB. The young man told the Army he participated in the NPA’s attack on government forces in Sitio Anoy, Barangay Cabalaunan, Miag-ao on April 18. “He was assigned as a perimeter security.  But when he had the chance, he escaped from the group, leaving behind his firearm. He went home straight,” said Batara./PN Tubungan’s Mayor Roquito Tacsagon helped in Botoy’s surrender.center_img The young man accepted the offer thinking he would be able to continue his studies. The young man was a resident of Miag-ao and was accompanied by his mother and barangay officials during the surrender. “He joined the rebels in February this year. He was fetching water when armed men approached him and offered an education scholarship if he went with them,” said Batara. The 35-year-old Botoy (not his real name) was a resident Tubungan town and member of the Sibat Platoon, Southern Front, Komiteng Rehiyon-Panay of the NPA. ILOILO City – Another member of the New People’s Army (NPA) surrendered to the Philippine Army’s 61st Infantry Battalion (61IB) in Miag-ao, Iloilo. Early this May, a 20-year-old lad surrendered to the 61IB. He said he was an NPA member and was present in the rebel group’s April encounter with government troops in Miag-ao. “We warmly welcome him. He is a victim of the rebels’’ propaganda and deception,” he said.last_img read more

James Wagner age 78 of Hartsville

first_imgJames (Jim) Arthur Wagner, 78, of Hartsville, passed away Tuesday, May 8, at his home.Visitation will be Friday, May 11, at Neal’s Funeral Home in Osgood, Indiana, from 10 a.m. to 2 p.m., with Funeral Services being held at 2:00 pm., also at the funeral home.  Burial will follow at Saint Maurice Catholic Cemetery in Napoleon, Indiana.Jim was born March 5, 1940, in Osgood, Indiana, the son of the late Arthur and Leona Wagner. He was a graduate of Holton High School’s class of 1958.Jim married Nancy Sue Michael on July 2, 1965, and for nearly 53 years, they lived with love, kindness, patience, and a sense of humor while raising two children, Michael and Christy.Jim spent the bulk of his career at Cummins, retiring after 38 years as a journeyman machine builder at Sytech, an experimental group that worked on advanced machine building. During his retirement, he also worked at True Value and Ace Hardware in Columbus.Jim most often could be found outside. He took pride in keeping his yard mowed and his garden free of weeds, and he could spend hours in his workshop, building or repairing just about anything. He played softball for more than 15 years on 40-, 50-, and 60-and-over leagues in both Columbus and Shelbyville. While his son Mike was a Boy Scout, Jim was active in his troop, going on camping trips and helping with troop activities. He also was a Master Mason and a member of Masonic Lodge #150 of Hope, Indiana. Jim enjoyed traveling, packing the car in his own particular way and taking his family on vacations to nearly every contiguous state. He watched NASCAR and rooted for Tony Stewart and later Martin Truex Jr. At restaurants, he often would pick up the check for random tables as an anonymous act of kindness. He never hesitated to help a friend or neighbor.Jim was a loving husband and father and took the time to share what he knew with his children. Among very many other things, he taught them the purpose of tools and how to use them, how to work with electricity, how to check and change the oil in their cars, and how to safely and respectfully handle and shoot guns—often while shooting trap in the backyard with both kids. He taught them the value of self-reliance, of doing something right the first time, and of fixing things yourself. By example, he taught them what a strong and gentle man looked like, how to be kind and thoughtful and funny, and the importance of family. Jim didn’t ask for a lot, yet he gave freely of himself, his time, and his talents.Jim is survived by his wife Nancy; his son Michael Wagner of Evanston, Illinois, and daughter Christy Wagner and her husband Keith Graul of Fishers, Indiana; and his siblings Roger Wagner and his wife Peggy of Osgood, Indiana, Gene Wagner and his wife Joyce of Osgood, Indiana, Carole Franklin and her husband Duane of Holton, Indiana, and Ronald Joe Wagner and his wife Pearl of Westport, Indiana.Memorial contributions can be made to Our Hospice of South Central Indiana or the Bartholomew County Humane Society in care of Neal’s Funeral Home.last_img read more

Solanke, a massive player — Bournemouth boss

first_imgBournemouth manager Eddie Howe has praised two-goal striker Dominic Solanke after his first goals for the club helped them to a 4-1 win over Leicester City.The win gives Howe a chance of staying up at the end of the season while Leicester’s place in the top four is under threat when Manchester United play Southampton on Monday night. Speaking after the game, Howe praised Solanke, saying: “I thought he was very good today.“He took his goals very well, both showed his qualities.“I always believe Dominic is going to be a massive player for us in the future and that will do his confidence the world of good.“Dominic is a very unique player, he has attributes we really like and value and I think he’s done very well mentally to make sure outside noise doesn’t affect him.“We needed to change things at half-time and had the mentality that we had to go for it. “Thankfully we were able to swing things round, we had tactical issues in the first half but the main change was mental.“It was almost the situation was as bleak as it could be, we had to find something, no fear.“We did that right from the off and it vastly improved our performance.”Leicester boss Brendan Rodgers believed his side paid the price for complacency after their early season form tailed off after the winter break.He said: “I didn’t see that coming but we are not good enough to get too comfortable. “We were in control of the game, Bournemouth changed their shape and you expect a 10-minute spell when you are up against it.“But we let them into the game with a penalty and I was very disappointed with how we played from there.“It’s not like us, we are a team that is strong mentally and we don’t concede many goals.“It’s a red card.RelatedPosts Gundogan tests positive for coronavirus Derby County want Jordon Ibe Townsend: Eze’s an incredible talent “We should defend the goal better but (Soyuncu) lashed out.“You offer the referee the opportunity to send you off.“It’s massive to lose him for the next three games.“If you think about what is at stake you have lost your focus.”Tags: BournemouthBrendan RodgersDominic SolankeEddie HoweLeicesterlast_img read more

Zamora earns QPR promotion

first_img Rangers boss Harry Redknapp was pinning his side’s promotion hopes on their top scorer Charlie Austin, and the chance the former Burnley striker had been looking for arrived shortly before the hour mark. Kevin Doyle sent Traore down the left flank and his cut back found Austin where he has been lurking most of the season, in front of goal 10 yards out. But this time the 20-goal frontman’s finish let him down as he sidefooted the ball wide of Lee Grant’s goal and held his head in his hands with disbelief. It looked like being a defining moment for Rangers, and worse was to follow three minutes later when Russell’s attempt to burst through on goal was curtailed by a deliberate foul from O’Neil. O’Neil argued that there were other defenders in the vicinity but referee Mason, probably wisely, decided veterans Dunne and Clint Hill were not going to catch Russell and produced a straight red card. Derby sense their chance and poured forward, forcing Green into point-blank saves from Craig Bryson, Chris Martin and Simon Dawkins in a frantic 10-minute spell. But as the clock ticked down Derby skipper Richard Keogh mis-controlled fatally in the area and Zamora, for the second time in his career, blasted in the most valuable goal in football. Bobby Zamora struck a dramatic last-minute winner to sink Derby and fire QPR back into the Premier League. But Zamora, who hit a play-off winner for West Ham in 2005, repeated the trick as Rangers bounced back into the top flight at the first attempt. It meant a sad return to Wembley for Rams boss Steve McClaren, back at the scene of his lowest moment in football when he cowered under an umbrella as his England side crumbled against Croatia in 2007 to miss out on qualification for the following year’s European Championship. McClaren, who began the season on Rangers’ coaching staff, must have had a wry smile on his face when, 10 minutes before kick-off, the heavens opened. All the pressure was on Rangers, £177million in debt and with a wage bill bigger than Atletico Madrid’s, and it showed. Derby bossed the first half and Craig Forsyth headed a deep cross from Jamie Ward narrowly wide, while Will Hughes blazed over from the edge of the area. Rangers’ hearts were in the mouths in the 27th minute when Hughes turned inside Richard Dunne in the area and promptly fell to the ground, but referee Lee Mason waved away the appeals for a penalty. Niko Kranjcar suffered a hamstring injury and the man who helped hasten McClaren’s England exit with his goal for Croatia that infamous night seven years ago limped off to be replaced by Armond Traore. Rangers keeper Rob Green dealt with Johnny Russell’s deflected effort and also got down well to tip Ward’s inswinging free-kick, which evaded everyone in the six-yard box, past the post. Press Association The 33-year-old, on as a substitute in what will probably be his last match as a Rangers player, waved goodbye with a goal worth an estimated £120million to the club, who sealed a 1-0 win over the Rams at Wembley. Rangers looked down and out after Gary O’Neil was sent off with half an hour still to play and with Derby well on top. last_img read more

Prosecutors request that the face-biting murder suspect be taped during psychological evaluation

first_imgProsecutors are requesting that the Tequesta teen who reportedly killed a couple and began eating their faces be taped during a psychological evaluation.The request was made after defense attorneys claimed that the then teen, Austin Harrouff, was not mentally aware when the incident took place in 2016.The victim’s John Stevens and Michelle Mischon were watching tv in their open garage when Harrouff attacked and killed them. A neighbor went over to help, however, he was serverly injured by Harrouff before he retreated back to his home and called the police.A responding officer reported that when he found Harrouff he was ripping pieces of flesh off of Stevens face with his teeth and was making animal noises.It took several officers and a stun-gun to remove Harrouff from Stevens’ body.Harrouff’s defense attorneys are currently fighting the motion to allow a recording of his examination saying that if the tapes are used in court and will violate Harrouff’s right not to testify.Harrouff’s case is set to go to trial in November.last_img read more

Badgers have more than shooter’s chance

first_imgIt’s the first day of the NCAA tournament, and like all responsible sports enthusiasts, I’ve ditched school and taken a personal day to soak up as many of the 16 games on today as humanly possible. To hell with the Masters, this is the true tradition like no other. And while today Wisconsinites are simply fans of college basketball, tomorrow the real business begins as Wisconsin takes the court against Texas A&M Corpus Christi. Then all that love for collegiate hoops takes a backseat to Bucky. Can the Badgers make a deep run in the NCAA tournament? That is the question wracking the brains of this campus more than any midterm coming up.Losing a Polar Bear and three of six games has fans wary of UW’s chances, and it’s understandable. The fact is, though, that this team is good. Very good. Final Four good. But the problem is the Badgers have an Achilles heel that even Achilles himself would call a weakness: their shooting.On the season, the Badgers are shooting a little more than 46 percent from the field. That’s not too shabby, as exemplified by the team’s school-record 29 wins, and it is a number that compares well to many tournament teams. In UW’s five losses, however, the Badgers are shooting just a hair more than 36 percent. That 10 percent difference tells a story more straightforward than “The Boy Who Cried Wolf.” Losing Brian Butch hurts, but losing your shooting touch hurts more. How far Wisconsin will go in the tournament will depend entirely on how well they shoot. When the Badgers shoot 50 percent from the field, there are only a handful of teams in the nation that can beat them. And for even those select few teams that can take down Bo Ryan’s boys on a hot shooting night, they will have to play well to do so.That’s because besides shooting percentage, UW is an eerily consistent team. The Badgers rarely turn the ball over, play some of the tightest defense in the country and (typically) get to the free-throw line often enough to keep their opponents in foul trouble, while staying foul-free themselves.The team also has a star player and go-to guy in Alando Tucker, plus one of the nation’s most dangerous second bananas in Kam Taylor. This is why the Badgers haven’t lost every game this year when their shot hasn’t been falling. They are good enough to overcome that against most teams.So if UW shoots 38 percent against TAMUCC, the Badgers probably will live to shoot another day. On the road against Ohio State, Wisconsin shot a hideous 35 percent and still managed to have a chance to win in the final moments, losing by a single point. But if Wisconsin wants to make its way to the Final Four and eventually take down some of the top-notch teams they will eventually need sharp shooting to give themselves a little more room for error. But how do the Badgers shoot a higher percentage? The answer is to get back to the basics. Ryan’s “swing offense” is often dissected, talked about and put under the microscope, but at the core of UW’s offensive philosophy is to get the ball inside, or “touch the paint” as Ryan puts it. That doesn’t mean Jason Chappell or Tucker has to shoot it every time the ball gets to them inside, but it does mean Wisconsin’s offense is most effective when:A. Shots are being taken close to the basket,B. The Badgers are getting fouled, often near the hoop, and C. When perimeter shots are coming off of kick outs from the post.Simply put, outside of Tucker, the Badgers aren’t a team that is going to have much success creating its own shot, and even Tucker can suffer from off nights when he is attempting one Barnum & Bailey shot after another. No, regardless of how difficult it might seem, UW will benefit exponentially from getting the ball inside, even against the toughest of zones (though Ohio State’s is the equivalent to Dante’s 7th layer of hell) and just do what the team does best. Although it’s too late to change your bracket, don’t worry about the Badgers’ chances of truly making 2007 a special season. This team is talented, battle-tested and has a chip on its shoulder. Just hope for some good shooting, now and down the road, and maybe, just maybe, you’ll have to change your spring break location to Atlanta.Dave McGrath is a senior majoring in English and journalism. If you’d like to talk about how awesome a Sweet 16 bracket with Arizona, Maryland, Winthrop, Wisconsin, Kansas, Southern Illnois, Pitt, UCLA, North Carolina, Texas, Wazzu, Texas Tech, Ohio State, Tennessee, Texas A&M and Memphis is, you can reach him at dmcgrath@badgerherald.com.last_img read more

UW women continue dominance in water

first_imgHeading into the 2009 fall season, the University of Wisconsin women’s lightweight rowing team held fairly lofty expectations. After all, the program had been the IRA National Champion five of the last six years and was a consistent powerhouse in the Eastern Sprints conference.For the most part, setting the bar high yielded positive results. Once again, head coach Erik Miller’s squad took home the Eastern Sprints title — its sixth-straight — and won every race in the fall season and every race in the spring up to the national championships. Yet, at the 2010 IRA National Championships in early June, Wisconsin was bested by another perennial powerhouse in Stanford. Still, the loss was UW’s first in over two years, and the Badgers took home the silver at the IRAs to cap another successful year.“Everyone once in a while, you’re going to not come out on top,” Miller said of the IRAs. “We actually had a pretty good race, but the team that beat us, Stanford, just had a little better race than we did. I think, overall, it was a pretty good effort. It shows we’ve got to come back and go a little faster next year.”Perhaps the Cardinal were motivated by a chance at redemption in the IRAs, as they were victorious in the schools’ first showdown at the Stanford Invitational back on April 10 and 11. On the first day of the two-day event, the UW varsity eight defeated Stanford as well as Princeton, while the second varsity eight also topped Stanford’s openweight novice eight and second varsity eight.“I thought that we were going to be pretty strong coming into this season,” Miller said. “It wasn’t surprising that we had a spring racing season and a fall racing season that were as good as they were.”That April weekend proved to be one of the highlights of Wisconsin’s season, as Miller also sent some freshman boats to New Jersey for the Knecht Cup.“The guys that went out to the Knecht Cup ended up winning the varsity lightweight eight race and also the novice heavyweight eight race, so that kind of showed the strength of the freshmen that we had last year,” Miller said. “That was a pretty big weekend for us, and it showed that we’ve definitely got some good depth and some good underclassmen who are going to be growing up and helping the team out in coming years.”Individually, the Badgers also produced impressive seasons in 2009-10. Two freshmen, Abby Knight and Constance Chucholowski, raced with their fellow first-years for most of the season, but were moved up to the varsity boats for the IRAs. In addition, junior Mia Cava also impressed year-round on the ergometer rowing machine.“Mia Cava, she did a really good job, trained really hard all of last summer and into the fall and was one of the top five erg scores,” Miller said. “I think she’s fourth on the overall list now of ergometer, the rowing machine, scores, all-time in the history of the lightweight team. So she’s somebody who came into the school and wasn’t necessarily super strong, but just really sort of turned it up and found a whole other gear and was really one of the team leaders this year.”For the upcoming fall season, the Badgers’ mission is clear: Continue to dominate the conference and recapture the national title.“We’ll get our first taste of racing many of the top lightweight schools in October when we go to the Head of the Charles,” Miller said. “That’s where we’ll see where we stand. Last year, we won that event and it set us up for a pretty good year. I expect us to be competitive and be one of the top lightweight teams and hopefully, at the end of the season, we come out on top.”last_img read more