Telecom Italia says it will cut 4,000 jobs in Italy
Italian telecommunications group Telecom Italia said on Wednesday it would cut a further 4,000 jobs in Italy from 2009 to 2011 as part of a restructuring plan.
By Agencies |
MILAN: Italian telecommunications group Telecom Italia said on Wednesday it would cut a further 4,000 jobs in Italy from 2009 to 2011 as part of a restructuring plan.
Telecom Italia, saddled with a 35-bn-euro (44-bn-dollar) debt, launched a savings scheme last June that called for the elimination of 5,000 jobs in Italy.
The June initiative aims at savings of two billion euros by 2011 and a sharp contraction in the debt.
The group has also announced its intention to sell off non-strategic operations in deals that could be worth up to 3.0 billion euros.
Telecom Italia, saddled with a 35-bn-euro (44-bn-dollar) debt, launched a savings scheme last June that called for the elimination of 5,000 jobs in Italy.
The June initiative aims at savings of two billion euros by 2011 and a sharp contraction in the debt.
The group has also announced its intention to sell off non-strategic operations in deals that could be worth up to 3.0 billion euros.
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