Some might call it an astute marketing move and others will say that this is a perfect example of a caring capitalist firm. Talktalk has announced that it will offer to waive the broadband and phone fees of its customers who have been hardest hit by the credit crunch.
The company says that it is willing to sacrifice up to £38.94, equivalent to 6 months worth of services, provided that the customers have been with Talktalk for more than six months and have been in debt with the company for less than 50 days.
The Emergency plan package, unveiled by Charles Dunstone, CEO of the Talktalk group, will reduce the service offered to their customers to a strict minimum - broadband speeds will drop to 512kbps with a 1GB transfer limit.
Phone services will only include free evening and weekend calls and international or mobile phone calls will be barred but the users will not be compelled to sign a new contract or repay the subscription fees at a later stage.
Dunstone added that "If you're anticipating hardship, perhaps as part of a job loss, your home phone and broadband service has never been more important in helping you get back on your feet, we hope our Emergency Plan will keep people connected, and give them the opportunity to apply for jobs and learn new skills."
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The plan will be available from the end of January 2009 to existing customers (yep, existing, not new). Customers who have been on the emergency plan for more than six months will be moved back to the standard mytalktalk package which costs £6.49 per month. Even if Talktalk will evaluate each case individually, the company must br praised for taking this step.