Deutsche Telekom to slash 19,000 jobs

Nov 02, 2005

Deutsche Telekom said Wednesday it will slash about 19,000 jobs over the next three years.

"The worldwide realignment of the industry, the rapid pace of technological development and, in particular, the tough competitive environment in the fixed network and broadband sector in Germany imposed by the regulatory situation, intensify the challenges facing the entire Deutsche Telekom Group," Chief Executive Kai-Uwe Ricke said in a news release. "On the one hand, we have to cut jobs in old core markets; on the other, there are opportunities to create jobs in new innovative markets," he added.

The company said total job cuts will reach 27,000, which will be offset by the creation of about 8,000 new jobs.

"Job cuts are to be made via voluntary measures, such as old-age part-time work and severance payments. With regard to civil servants, talks with the federal government about early retirement programs will be necessary. The talks will begin after the federal government has been constituted," stated Chief Human Resources Officer Heinz Klinkhammer.

Copyright 2005 by United Press International

Explore further: Microsoft challenging US on overseas data

add to favorites email to friend print save as pdf

Related Stories

Wireless show expected to draw crowds to Barcelona

Feb 22, 2013

When the top executives of the world's wireless industry gather next week in Barcelona, Spain, for their annual trade show, cellphones will take a back seat to talk of cars, electric meters and insulin monitors.

Market slide clouds AT&T merger plan

Aug 12, 2011

The stock market squeeze is threatening to take the air out of AT&T Inc.'s best argument for the regulatory approval of its $39 billion acquisition of T-Mobile USA.

Tickets, coupons among uses for tap-to-pay phones

Feb 21, 2011

(AP) -- Cell phones are usually used to communicate with people far away. This year, they'll get the ability to do the opposite: communicate with things that are close enough to touch.

Silicon Valley Seeks to Revamp Wireless Industry

Apr 15, 2007

A start-up backed by Silicon Valley's power elite hopes to convince regulators to back a business plan that could scrap many restrictions on wireless networks and help Internet service providers like Google Inc. and Yahoo ...

New program aims to overhaul the Internet

Mar 14, 2007

The Internet is enough of a marvel that most people would never ask, ''Is this really how we would build it if we could design it all today?'' But asking that very question is the job of a broad-based team of Stanford researchers. ...

Recommended for you

Microsoft challenging US on overseas data

2 hours ago

In a case closely watched by the tech sector, Microsoft will challenge Thursday a US court order requiring it to give prosecutors electronic mail content associated with an overseas server.

Facebook's Internet.org expands in Zambia

2 hours ago

(AP)—Facebook's Internet.org project is taking another step toward its goal of bringing the Internet to people who are not yet online with an app launching Thursday in Zambia.

Sony surprises with first quarter profit

2 hours ago

(AP)—Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake in a video-game maker.

Samsung profit falls as smartphone sales slow

2 hours ago

(AP)—Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

User comments : 0