Early this year, Partner CEO David Avner said that, despite the global economic crisis, the company would not lay off employees.
Sources inform ''Globes'' that Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) has hired McKinsey & Company for its streamlining project. This is the second time that Partner CEO David Avner has hired an outside firm to help it improve and cut its costs structure.
McKinsey is one of the world's largest consulting firms. It has been very active in the Israeli telecommunications market, advising several operators on various matters. The firm also advised Permira Advisors LLP in its bid for Partner.
Early this year, Avner said that, despite the global economic crisis and the fall in revenue, the company would not lay off employees, the rationale being that keeping employees during hard times strengthens their motivation and confidence in the company, and induces them to work harder.
Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009