MTN Group to cut nearly 850 managerial jobs

South Africa’s MTN Group plans to lay off around 850 managerial staff, an official of the Solidarity Union said on Monday, as the mobile operator faces slowing growth and tough competition in its home market.

Africa’s largest telecommunications group has expanded rapidly in the last two decades across the continent and in the Middle East but is facing stiff competition in South Africa, where the market is dominated by rival Vodacom.