61,000 Deutsche Telekom jobs could be hit by spin-off plans
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Ver.di -- the giant services sector union -- said on Thursday that more than 61,000 employees of Deutsche Telekom could be affected by company plans to spin off some services activities, such as call-centres, many more than originally estimated.
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FRANKFURT/LONDON Oct 11  - Germany sold a 6.3  percent stake in phone operator Deutsche Telekom on Monday,  raising up to 4.5 billion euros ($5.6 billion) to help it curb  a burgeoning budget deficit.
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German Chancellor Angela Merkel has said German electronics giant Siemens must take responsibility for 3,000 of its former workers who are set to lose their jobs.
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Freescale Semiconductor Inc. plans to cut at least 1,000 jobs from its worldwide operations, the company said as part of its second earnings report since it went public in July after being spun off from Motorola Inc.
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Deutsche Telekom, Europe's leading telecommunications group, said it planned to resume paying dividends this year after its shareholders had gone empty-handed for the past two years.
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London - Cable and Wireless, the struggling British telecoms group, said Wednesday it would cut 600 jobs across Europe, part company with a top executive and shut its London headquarters.
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Struggling German retailer KarstadtQuelle said Tuesday it plans to sell nearly half of its department stores and raise about &#36;615 million through a share offering as it restructures in response to Germany's persistent retail slump.
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Deutsche Telekom, the largest European phone company, on Thursday raised its forecast for net income in 2004 and said it planned to pay its first dividend in three years, after its third-quarter profit more than doubled.
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Deutsche Telekom secures a deal that will see 50,000 staff accept both lower pay and longer working hours.
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SBC Communications says it may cut about 10,000 jobs by the end of next year, which would equal, 6% of its workforce. The cuts are a result of customers switching from regular phone lines to cellular and voice-over internet services.
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Motorola Inc. will cut 1,000 jobs worldwide and take a charge of 50 million dollar for severance benefits as it completes the spinoff of its semiconductor division, officials said today.
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The Wall Street Journal reports that the No. 3 cell phone operator in the country is preparing to lay off thousands of workers to help get its business back on track.
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Motorola may spin off its handset business, the weakest part of a wireless giant that has seen hard times and a management shakeup in recent months.The company is &quot;exploring the structural and strategic realignment of its businesses to better equip its Mobile Devices Business to recapture global market leadership and to enhance shareholder value,&quot; Motorola said in a statement Thursday. &quot;The company&#39;s alternatives may include the separation of Mobile Devices from its other businesses.&quot;The handset unit has had trouble coming up with a successor to the popular Razr phone, and in last year&#39;s third quarter it fell to third place in worldwide sales behind Samsung. But spinning off the division, which forms the largest part of Motorola&#39;s business, would be a drastic move.Motorola had 13 percent of the worldwide handset market in last year&#39;s third quarter, down from a 21 percent share a year earlier, according to Gartner. Samsung had 15 percent and Nokia 38 percent.Thursday&#39;s announcement doesn&#39;t guarantee the handset business will be spun off. CEO Greg Brown said in the statement that Motorola was exploring ways in which the unit can recover faster and retain and attract talent, plus help shareholders &quot;realize the value of this great franchise.&quot;In its fourth-quarter results announced last week, Motorola said the Mobile Devices Business lost $388 million on revenue of $4.8 billion, down from a profit of $341 million on revenue of $7.8 billion a year earlier. Fourth-quarter sales were up in both the Home and Networks Mobility group, which makes set-top boxes and wireless infrastructure, and in Enterprise Mobility, which benefitted from&#160;Motorola&#39;s acquisition of Symbol Technologies&#160;early last year.Motorola as a whole lost $49 million for the year.&#160;CEO Ed Zander stepped down in late November, replaced by Brown.
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Merger with T-Mobile on the cards? Deutsche Telekom is close to making a â¬1.6bn ($2.2bn) bid for mobile operator Orange Netherlands - owned by France Telecom.â¦
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Deutsche Telekom  plans to keep on cutting jobs and may consider small investments in emerging markets, its chief executive said in extracts of a newspaper interview released on Sunday.
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Deutsche Telekom is changing its   management structure after poor quarterly results revealed that   Europe's biggest telecoms group by sales was no longer growing   in its German home market.
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Sprint Nextel Corp , the No. 3 U.S. mobile service, plans to lay off several thousand of its 60,000 employees, the Wall Street Journal reported on Monday.