imageJOHANNESBURG: South Africa's Telkom SA has laid off 406 managers, the chief executive of the fixed-line operator said on Monday, following months of wrangling with unions over restructuring.

Chief Executive Sipho Maseko said this in a conference call following the release of Telkom's first-half earnings.

The company has been on a drive to cut costs and boost earnings as demand for fixed-line services falls due to stiff competition from mobile operators.

Copyright Reuters, 2014

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