Deutsche Telekom plans to cut around 3,000 jobs in Germany - report

News General Germany 22 OCT 2021
Deutsche Telekom plans to cut around 3,000 jobs in Germany - report

Deutsche Telekom plans to cut around 3,000 jobs in Germany as part of the cost cutting plan "Save for Fiber" and as a result of the stake increase in T-Mobile US, Manager Magazine reported citing sources. Around 3,000 full-time senior executives in high-level positions such as controlling will be affected by the cost cutting plan, the report added.

After taking over T-Mobile US from Softbank, Telekom’s debts total around EUR 128 billion. Softbank had sold its US wireless company Sprint to Telekom for USD 26 billion. Telekom has also announced the sale of T-Mobile Netherlands to private equity funds Apax and Warburg Pincus for an enterprise value of EUR 5.1 billion.

Categories:

General

Companies:

Softbank,  T-Mobile Netherlands,  Deutsche Telekom,  T-Mobile US

Countries:

Germany

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