SmarTone Telecommunications - Hong Kong's No 3 mobile carrier - has laid off about a quarter of the staff at its broadband Internet services division.
The lay offs are the second in the division this year following the axing of 60 jobs in April.
The news came two days after the company announced it had made a HK$167 million provision for its broadband and teleport assets.
It was the main factor contributing to a HK$284 million loss for the year to June 30.
Chief executive Douglas Li yesterday confirmed the company had released 22 staff, but refused to disclose the expected cost-savings.
'This is a restructuring move to allow our LMDS [local multi-point distribution system] operation to merge under the mobile operation,' Mr Li said.
'As a result, there will be personnel changes aimed at saving costs.'