MOSCOW, May 3 (RIA Novosti) - Sibirtelecom (RTS: ENCO) said Wednesday that it would reduce its capital investments by 5.7% in 2006 and make staff cutbacks of 20% in 2005-2007.
Lyudmila Burova, head of the Sibirtelecom economics unit, told an online news conference that capital investment would fall to 5.8 billion rubles ($213 mln) in 2006 from last year's 6.1 bln rubles ($226 mln).
Siberia's no.1 telecommunications operator made 8.7% of its employees redundant last year and Burova said those remaining on the staff could have their salaries raised after the planned layoff in 2006.
Sibirtelecom is part of state-controlled IT holding company Svyazinest along with six other regional telecom providers and a national long-distance and international operator, Rostelecom.
