DOZENS of employees at a Hampshire telecoms firm have lost their job.

Tetcom Limited, a Southampton-based telecoms company, has made about 40 staff members redundant as part of a restructuring process.

The news comes eight months after the firm opened its new offices in London Road.

Tetcom, which supplies telephone systems to businesses, was set up in a garage in 2012 by father-son duo John and Charles Tett.

In June the Daily Echo reported that the firm had 70 employees. But the number of people who are currently working for the company has not been confirmed.

Tetcom director Charles Tett said: “ The telecoms industry is going through some major changes and with the current global economic climate, the uncertainty posed by Brexit and a general decline in fixed telephone systems sales, funders have slowly been withdrawing finance facilities within the soft asset sector.

“After many months of reorganisation and restructure, the directors sought the advice of professional advisers and reluctantly took the decision to downsize the business.

“This regrettably led to the redundancy of some staff, but a HR company has been brought in at the expense of the directors to help with the redundancy process.”

In a statement Adcroft Hilton Limited, speaking of behalf of the company, added: “The decision to make redundancies had to be made quickly after it became clear that funding had been withdrawn. All the staff have been given advice on their rights. The directors are hopeful that they will be able to rescue some parts of the business and that this will lead to new job opportunities in the future.”

As previously reported, after three years in Nursling the firm outgrew its premises and in June moved to offices formerly occupied by law firm Moore Blatch.