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Hyderabad, Nov. 13 Megasoft, a telecom and IT solutions company, has trimmed its workforce by about 100, nearly a quarter of the company’s workforce, in the last few weeks.

The size of workforce at the Cyberpearl facility at Madhapur here has come down to 35 from 110, according to Mr G.V. Kumar, Managing Director of Megasoft.

The company, which was hit by the slowdown, has decided to go slow on taking new orders that ensured no immediate cash flows. It registered a consolidated income of Rs 82.90 crore in the third quarter ended September 30, as against Rs 72.80 crore in the same quarter last year. The net profit dipped to Rs 2.17 crore (Rs 16.29 crore).

The company, while announcing the third quarter results, had already hinted at cost-cutting measures that included leasing out the unused space and scaling down the workforce.

According to Mr Kumar, XIUS-bcgi, the telecom solutions arm of Megasoft, has reduced the workforce by 280 in three phases from November 2007 to August 2008.

Megasoft’s scrip closed at Rs 24.45 on Wednesday on BSE. It saw a 52-week high of Rs 144.80 on December 7, 2007, and a low of Rs 22.05 on November 3, 2008.

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