German Labor Union Backs Off Deutsche Telekom Deal
An AP newswire article by Matt Moore, via SFGate.com, reports that:
The German labor union ver.di on Thursday backed off a tentative agreement with Deutsche Telekom AG over the company's plans to cut thousands of jobs through 2008.
Bonn-based Deutsche Telekom said in November that it planned to cut 32,000 jobs as part of a 3.3 billion euros ($3.9 billion) plan to restructure its operation and rein in expenses.
The service workers' union ver.di said Wednesday it had reached a compromise with Deutsche Telekom negotiators about the package of cuts, but neither the union nor the company released any details.
posted by Fergie @ 2/09/2006 09:54:00 AM
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