Mexico's Telmex cuts 750 jobs

MEXICO CITY, Feb 18 (Reuters) - Mexico's dominant fixed-line telephone operator Telmex said on Monday it had cut around 750 jobs in Mexico to help deal with a slowing economy and stiffer competition.

Telmex (TELMEXL.MX: Quote, Profile, Research, Stock Buzz)(TMX.N: Quote, Profile, Research, Stock Buzz) said most of the jobs had been cut using early retirement programs.

Telmex officials said last week the company needed to scale down its workforce, particularly among non-unionized middle and senior management, to improve competitiveness in a difficult economic environment.

Mexican media speculated the job cuts could number as many as 4,000, but the telephone workers union was told its members would not be affected.

The cuts come as Telmex, controlled by billionaire Carlos Slim, is spinning off of its international operations.

A former state-owned monopoly, Telmex dominates the fixed- line and long-distance market in Mexico, but has come under pressure recently in local markets from increased competition. (Reporting by Luis Rojas; Editing by Valerie Lee)