Telecom Italia’s Network Spin-Off Would Put At Risk 20,000 Jobs: Trade Union Source

The plan to spin off the fixed-line network of former telecoms monopolist Telecom Italia would put at risk 20,000 jobs, a trade union source said on Thursday.

Italy’s government is studying a spin-off of network assets from Telecom Italia (TIM). Il Messaggero daily said on Thursday 30,000 TIM staff would be transferred to the new fixed-line company together with assets – both from TIM and Open Fiber – worth 15 billion euros ($17 billion).

“Yes,” a member of telecoms union UILCOM said in answer to a question over whether the plan would risk making 20,000 people at TIM redundant. TIM currently employs around 50,000 people in Italy. ($1 = 0.8761 euros) – Reuters