Mincom has confirmed that it let 100 employees go in February as it underwent a restructure to shunt it into a new strategy and manage its costs.
The number represented around 8 per cent of the global workforce, according to a spokesperson for the company. Of the 100 people laid off, 50 were from Australia, although the spokesperson was unable to say within which areas of the company the employees had worked.
The company was working with those who had been let go to support them and find them jobs outside Mincom.
The new structure would lend the company a strong strategy for the next two years, according to the spokesperson. "It's not just about cost efficiencies — it's about reshaping the company," they said.
"While this has been a challenging decision to make, it will enable us to position Mincom strategically for the future," the spokesperson said.
There had been speculation that the US private equity company which bought Mincom in 2007 wanted to move the headquarters to the US, but the spokesperson said there were no plans to undertake such a move.
Mincom have changed direction, focus etc every year they have existed including retrenching people. For a company it has always amazed for its lack of single focus and strategy optimisation.
Data#3 could be considered to be better managed which is saying something