Hutchison sheds 750 telecoms workers, South China Morning Post, 6 Jan 2005

“Hutchison Whampoa has cut 750 jobs from its telecoms arm, blaming the government for creating an operating environment worse than in the 1998 financial crisis. Group managing director Canning Fok Kin-ning said the recent "unreasonable" decision by the telecoms regulator to revoke an under-used mobile frequency licence by 2008 was the main trigger for the cuts. Mr Fok said revocation of the CDMA (code division multiple access) licence held by Hutchison Telecommunications International Ltd (HTIL) had cramped the company's ability to compete. He also cited intense competition in the market.�

Full story at http://www.scmp.com/topnews/ZZZRCL7HJ3E.html