Almost 90% of the UK workforce at the telecoms company Lycamobile have been told they could lose their jobs, the Guardian has learned, in an announcement that leaves more than 300 staff fearing for their roles shortly before Christmas, The Guardian reported.
The company, owned by the multimillionaire Tory donor and British-Sri Lankan businessman Allirajah Subaskaran, sells pay-as-you-go sim cards popular with low-paid workers wanting to make cheap phone calls to family overseas, as well as in the UK.
On Friday, staff at the Lycamobile’s headquarters in the City of London were told that the company was facing “pretty serious challenges” and was planning to cut up to 316 jobs, leaving as few as 48 in the UK.
Lycamobile lost £24m in 2022, the last year for which accounts are available, and its auditors have raised concerns about the opacity of the company’s books. It is also locked in a protracted tussle with HMRC over an alleged £51m unpaid VAT bill related to phone “bundles” sold to customers.
Read the full report ⬇️