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Europe

T Italia Wields Axe

2:25 PM -- Telecom Italia (TIM) has a new headcount reduction plan to go with its new owners and new strategy. (See Telefónica Takes Stake in Telecom Italia and Telecom Italia Eyes Emerging Markets.)

The Italian incumbent says it's axing 5,000 jobs in Italy by 2010 -- that's 7.5 percent of its current domestic workforce of 66,750 (at end of March 2008). The carrier also has about 15,000 staff outside Italy. (See Telecom Italia Cuts Staff.)

The move will, according to the carrier, save it about €300 million ($467 million) a year once completed and cost €250 million ($389 million) to implement.

News of the job cuts coincided with the launch of the carrier's new Domestic Market Operations Division, which is tasked with "integrating management and control of the present Fixed, Mobile and Top Clients structures."

The idea is that the new division will "progressively adopt a 'Customer Centric' organizational model."

Buona fortuna with that one, miei amici.

— Ray Le Maistre, International News Editor, Light Reading

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