Ten FINTEL employees have lost their jobs in the past week as the company feels the impact of open market competition.

The employees were part of FINTEL’s internet arm – KIDANET.

Company boss Iowane Koroivuki says the terminations were in accordance with the terms and conditions of their contract.

KIDANET is a business arm of FINTEL operating for some years now.

Last Friday it sent home ten staff.

He didn’t say if those laid off received redundancy packages or if they were given an opportunity to negotiate one.

However, he explained that KIDANET is being re-organized with a total of twelve KIDANET roles being dis-established.

Responding to our written questions, Koroivuki brushed aside suggestions that KIDANET’s operations have been wound down but instead folded back to be managed by FINTEL.

He adds they will continue to service KIDANET customers as well as related products.

He explained and I quote “KIDANET is operating in a deregulated and competitive market, as such its services will naturally impact the market share of other providers” unquote.

Among those facing the axe from FINTEL is KIDANET CEO Jone Wesele.

Koroivuki says FINTEL and KINDANET operated under a group structure which has been discontinued thus causing CEO KIDANET’S role dis-established.

The FINTEL CEO says the decisions were made by the FINTEL Board.