Deutsche Telekom CEO René Obermann plans to cut up to 1,600 jobs at the company's headquarters in Bonn, according to German newspaper Handelsblatt citing sources within the company. The cuts are focused on senior management positions, according to one of the sources. The downsizing is part of the company's Save for Service plan and was confirmed by a spokesman for the company without confirming the number of possible cuts or if they will be focused on senior management positions. The cost reductions associated with the restructuring could amount to EUR 320-400 million, according to the paper's sources. According to Bloomberg, citing Deutsche Telekom spokesman Christian Schwolow, the plan include up to 400 job cuts per year until 2015. He also said that the plan is not yet final, but would decrease the number of employees at various levels through means including early retirement and voluntary departure.
