Deutsche Telekom to cut 15,500 more jobs; 46,000 by 2005
Deutsche Telekom said last month that over the next three years it may cut as many as 15,500 more jobs than previously announced.
DT is stepping up efforts to cut its EUR64bn debt burden, including 3,500 lay-offs at its TSystems telecoms engineering unit, 1000 at its T-Mobile mobiles business, and 11,000 in foreign units.
The company raised the number of losses expected by 2005 at its main German T-Com fixed network division, from 7200 to 29,500.
A spokesman said that total job cuts of around 46,000 by the end of 2005 was “realistic” — 35,000 in Germany and 11,000 abroad.