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 Thursday, 04 December 2008

Telecom Italia SpA will cut an additional 4,000 jobs by 2011 as it concentrates on core growth markets in Italy and Brazil to confront the deteriorating economic situation, CEO Franco Bernabe said Wednesday.

The 4,000 job cuts are in addition to 5,000 announced in June, and will reduce Telecom Italia's work force by 14 percent from 64,000 to 55,000. Bernabe said the number of managers will be cut in half as the company seeks to simplify its organization.

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Source: Cellular News.