T Italia Axes 4,000 More

Italian operator deepens job cuts

Michelle Donegan, Contributing Editor, Light Reading

December 3, 2008

1 Min Read
T Italia Axes 4,000 More

10:30 AM -- Telecom Italia (TIM) will cut another 4,000 jobs in Italy in addition to the 5,000 job reductions announced in June by 2010, as part of a plan to save €2 billion (US$2.5 billion) over the next three years. The news came today as the Italian operator announced a new three-year strategic plan for 2009-2011. (See T Italia Wields Axe.)

Telecom Italia also wants to shed non-core assets worth some €3 billion ($3.8 billion). The operator said it will focus on fixed line and mobile broadband services in Italy, Brazil, and Argentina.

“Operations that fall outside these geographic and business priorities will be managed to enhance their value prior to divestment,” said CEO Franco Bernabè.

The operator has heaped the pile of job redundancies in Europe, following similar announcements from Virgin Media Inc. (Nasdaq: VMED), Cable and Wireless plc (NYSE: CWP), Telekom Austria AG (NYSE: TKA; Vienna: TKA), Nokia Networks , and Nortel Networks Ltd. . (See Europe Hit With Big Telecom Jobs Cuts.)

— Michelle Donegan, European Editor, Unstrung

Read more about:

Europe

About the Author(s)

Michelle Donegan

Contributing Editor, Light Reading

Michelle Donegan is an independent technology writer who has covered the communications industry on both sides of the Pond for the past twenty years.

Her career began in Chicago in 1993 when Telephony magazine launched an international title, aptly named Global Telephony. Since then, she has upped sticks (as they say) to the UK and has written for various publications, including Communications Week International, Total Telecom, Light Reading, Telecom Titans and more.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like