IDT Telecom Cuts 300 Jobs

I forgot to post on one of my earlier posts that IDT announced during their earnings call that they have just cut 300 jobs from the Telecom division. Add this to the 570 or so jobs cut in late summer last year and the company is pushing almost a 25% reduction in its work force from last year (Yahoo had IDT listed at 4,000 employees up until last week when they adjusted this number t0 3,000).

Based on their poor performance, bleak prognosis on new businesses and sharp quarter after quarter of declining phone card revenues, it is probably not the end of the layoffs either.