The recent buyout of Helio will become the cause to lay off 10 % of the strong workforce. According to the company, acquisition of Helio and the move to an IBM-contracted IT infrastructure was the factor behind that cull.
Most losses are expected to come in the New Jersey and California offices and it indicates that the company is ready for the worst worldwide in the fiscal year 2009.
Virgin Mobile has shown some decent global financial results recently that indicate 8% percent increase in subscribers in year on year terms in the US.
According to Virgin Mobile USA Chief Executive Officer Dan Schulman, “We have projected the status of the Company post-integration and some remaining duplication of assignments has also been identified.”
“We are planning to expand the investments in our prepaid as well as new postpaid business and we need to identify opportunities to decrease operating costs in all areas,” he added.