Ing C Olivetti & Co SpA will lay off 1,000 employees at the end of the year, but under a state-funded lay-off scheme, the employees will stay on Olivetti’s books for a finite period but have their salaries paid by a government entity from January. The lay-offs are usually a prelude to redundancy.The company says it is still engaged in negotiations with union representatives over the fate of 1,000 more.
OLIVETTI TO LAY OFF 1,000 PEOPLE AT YEAR-END; ANOTHER 1,000 TO GO
