406 Telkom managers get the chop

Johannesburg - 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.