Telecom Italia reached an agreement tonight with the unions on cost cutting. The agreement provides for around 3 redundancies: 500 have already met the requirements for retirement while the remaining 2.500 will be managed with solidarity contracts.
In addition, 322 redundancies within Telecom will always be managed through solidarity contracts and a further 22 will retire. The transformation of customer care into an ad hoc company was avoided. The company pledged not to sell or privatize the division until 2014.
At the end of the morning, Telecom Italia's share on the Stock Exchange lost more than four points.
