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Sector
Financials
Size
Mid Cap
Market Cap £494.5m
Enterprise Value £493.4m
Revenue £n/a
Position in Universe 3216th / 6849

Sky Italia to cut workforce by 25% in 4 year plan - sources

Fri 9th April, 2021 11:38am
MILAN, April 9 (Reuters) - U.S. Comcast's  CMCSA.O  Italian
unit SKY has told national union representatives it plans to
reduce its total workforce, including contractors, by 25% under
a four year reorganization plan, two sources familiar with the
matter said on Friday.
    The cuts are expected to yield savings of about 300 million
euros ($356.76 million), the sources added. 
    Italy's top pay TV player SKY intends to manage the
redundancies on a voluntary basis through agreements with the
unions, one of the sources said.
($1 = 0.8409 euros)

 (Reporting by Elvira Pollina, writing by Maria Pia Quaglia;
editing by Agnieszka Flak)
 ((mariapia.quaglia@tr.com; +39 02 66129638;))
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