Unicom Denies Employee Buy-off Rumor
Sohu IT, 7/23/08
An anonymous source claiming to be a China Unicom (NYSE: CHU; 0762.HK; 600050.SH) employee has revealed that based on former employee restructuring plans and the current state of affairs for Unicom's old employees, China Unicom may well "buy off" employees after next month's Olympics. In this case, Unicom would pay off employees with 10 or more years of service at a rate of RMB 15,000 per year worked.
A spokesperson for Unicom denied the rumor and stressed that it was extremely unlikely that any human resources policies will be introduced before the September 16 Unicom shareholders' meeting.
Keywords: HR 0762.HK 600050.SH China Unicom CHU Olympics restructuring wireless
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