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September 24, 2008

Telecom Italia reaches agreement with trade unions on redundancies

Telecom Italia has finalized an agreement with trade unions on making 5,000 employees redundant by the end of 2010.

By CBR Staff Writer

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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