Telecom Italia Seeks Union Deal on Layoffs by March 6 -Reuters

Telecom Italia has given unions an ultimatum: Agree to a deal over proposed job cuts by March 6 or it will make use of state-sponsored temporary layoff program, Reuters reports, citing a trade-union official.

--March 6 is the date TIM is due to present a new business plan under recently appointed CEO Amos Genish.

--The telecom is looking to cut up to 7,500 jobs in Italy through incentivized layoffs and early retirement, Reuters reports, citing an unnamed labor source, while also planning to add 2,000 new staff and asking all other employees to work 20 minutes less a day.

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(END) Dow Jones Newswires

January 18, 2018 12:24 ET (17:24 GMT)