The company said that it will complete the redundancy package with a sum that will guarantee that 90% of an employee’s regular monthly pay check is received. In the context of the overall agreement, Telecom Italia has committed to recruiting 600 workers in the two-year period 2009-2010 and from January 1, 2009 it agreed to convert 300 temporary contracts into permanent ones. Further, the company will transfer 1,600 workers at the Telecontact center from 50%-partime contracts to 75%-partime contracts over the period 2009 2010.
The agreement signed is part of the efficiency and re-organization plan announced in the early June 2008 and is expected to bring a cost reduction of approximately E300 million a year upon completion. The agreement entails a one-time restructuring charge of E287 million.
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