EMCC European Monitoring Centre on Change

Telekom

Company/Organisation:
Telekom

Geographic Location

Country: Germany

Company

Sector: Information / communication
Telecommunications
61 - Telecommunications
Number Employed: 150000
Group: Telekom

Employment Effects

Announcement Date: 19-01-2008
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2008
Foreseen End Date: 31-12-2008
Planned Job Creation: 4000

Additional Information

On 18 January 2008, Telekom, German largest telecommunication company, announced the creation of 4,000 jobs for young academics to increase innovation in high tech fields ranging from electronics to media. The new jobs are expected to be created by the end of 2008. In line with a cost-saving program announced in 2006, Telekom is also reducing its elderly workforce by 32,000 by the end of 2008. The company says it needs to react to demographic change. In 2005, an additional 50,000 workers were outplaced to subsidiaries paying lower wages. In the same year Telekom employed 5,000 new, young workers.