Telecom Italia announces 2,000 job cuts

At a recent union meeting, it was outlined that Telecom Italia intends to cut 2,000 jobs in Italy, in an effort to streamline its domestic operations. The job cuts will be executed through a voluntary early retirement scheme, following a meeting with the unions. Currently the company employs around 40,000 workers in the country.

The company reportedly agreed on a deal with unions last year to cut 1,200 jobs, this new announcement takes the total to 3,200.

Commentators highlight that TIM has become saddled with debt in recent years as a result of "intense price competition in its key domestic market."