Karachi: Wateen Telecom Limited announced a strategic realignment of its corporate strategy in its efforts to build a successful converged communications business in difficult, challenging and unpredictable economic circumstances, Wateen has undertaken a detailed review of all its businesses.
Despite Wateen winning laurels from PTA for Quality of Service, Consumer Choice Award in the internet category and Marketing Association of Pakistan for Wateen corporate re-launch it has been a difficult environment for this industry.
Facing pressure from the adverse effects of the fire incident at the head office, increased power shortages, escalating energy prices and a recessionary market, Wateen has decided to restructure the WiMAX business and focus its operations in areas where there is stronger demand.
In its other businesses, Wateen has also instituted cost efficiencies to ensure sustained growth. The restructuring aims to strengthen the company and help ensure this business along with the other successful core divisions are in a position to improve business viability, maximise returns for shareholders and transform the organisation into a highly competitive business entity.
Through this process of realignment of the corporate structure and to achieve cost efficiencies, some staff positions will become redundant. Customer satisfaction remains Wateen’s utmost priority.
Naeem Zamindar, CEO Wateen Telecom said, “Every business comes with its share of challenges”. The current restructuring will enable us to align our cost structures, to ensure business sustainability and success.
While WiMAX continues to be a challenge for all operators across the industry, Wateen’s other business lines have shown considerable improvement. The company’s LDI business has grown from being number eight to the second largest player in the industry and the enterprise connectivity and solutions business is prospering.