Sources inform "Globes" that Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) has recently fired 300 employees as Israel's veteran mobile operators carry out streamlining measures to cope with competition from new carriers. These latest cutbacks by Partner, which has the Orange franchise in Israel, follow the firing of 1,400 employees between October 2011 and March 2012.

In response Partner said, "Partner continues to reduce its manpower situation as part of the streamlining process. In the coming months there will be no more cutbacks because of the Jewish holidays."

Last October when the major wave of cutbacks began Partner CEO Haim Romano wrote to employees saying, "We have no choice but to implement streamlining. Over the past year there have been substantial and swift changes in the telecom market. The market has opened to aggressive competition and significant regulatory decisions."

The company's share price rose 1.95% on the TASE today to NIS 14.10. In morning trading on Nasdaq the share price fell 1.43% to $3.51, giving a market cap of $544.8 million.

Published by Globes [online], Israel business news - www.globes-online.com - on August 9, 2012

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