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Telecom Italia SpA Signs Agreement With Trade Unions to Increase Productivity


Wednesday, 27 Mar 2013 02:02pm EDT 

Telecom Italia SpA announced that it has signed an agreement on March 27, 2013, with the Trade Unions aimed at increasing internal productivity through a more effective organization of labor and internalization of activities outsourced externally. Redundancies will be managed mainly through the adoption of solidarity contracts. The understanding allows respecting the Company‚Äôs 3-year Plan targets that foresee continuation of the process of cost reductions, including labor costs. The agreement signed allows managing the redundancies identified for the period 2013/2014 through social security cushions such as solidarity contracts avoiding layoffs. Specifically, 2,500 of the 3,000 jobs at risk at Telecom Italia SpA will be saved through solidarity contracts covering around 32,000 employees. 500 workers will leave the Company either because they already have legal pension entitlements or voluntarily because will reach pension age during the flexibility period under Law 223/91. A further 350 surplus jobs identified at Telecom Italia Information Technology for the period 2013/2014 will be protected using the same support mechanisms. The measures planned include the Caring Services Division, Open Access, Directory Assistance and Bonuses. 

Company Quote

0.897
0.01 +1.13%
25 Jul 2014