Telecom Italia: towards a redundancy plan?

(CercleFinance.com) - Telecom Italia appears to be considering laying off 7,000 of its workforce, or 14% of its total workforce in Italy, including 4,000 early retirements and 3,000 voluntary departures over three years, according to Bloomberg, citing closely related sources.


Bloomberg adds that the Italian telecommunications operator intends to recruit 2,000 young people, while these jobs would be financed by reducing the working hours of 3,000 other employees.

Bloomberg reports that Telecom Italia is preparing to provision around 700 million euros to fund its staff cuts, and that informal talks have begun between the former state monopoly and the unions.


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