DT’s debt reduction to impact on employees

29 Oct 2003

Deutsche Telekom plans to cut hours and wages for 100,000 German employees – 40% of the workforce – as part of its ongoing zealous quest to reduce debt. DT has debt of EUR56 billion and is imposing a 10% cut in workers’ hours, primarily aimed at staff in its T-Com fixed line unit. The move, however, is expected to encounter stiff opposition from unions.