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TI.A - Telecom Italia SpA News Story

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Last Trade - 05/07/19

Large Cap
Market Cap £9.35bn
Enterprise Value £32.64bn
Revenue £13.73bn
Position in Universe th / 6854

TIM Brasil lays off 1,700 workers in call center cuts -union

Mon 11th July, 2016 7:48pm
By Ana Mano 
    SAO PAULO, July 11 (Reuters) - Brazilian wireless carrier 
TIM Participações SA  TIMP3.SA  has laid off 1,700 call center 
employees, union representatives said on Monday, highlighting 
efforts to cut costs in the worst recession in decades.  
    The Brazilian unit of Telecom Italia SpA  TLIT.MI.  did not 
comment on the number of layoffs, but said the reorganization of 
its call center operation was part of efforts to achieve cost 
savings of 1 billion reais ($303 million) through 2017. 
    In both Curitiba and Recife, where the layoffs took place, 
the company and the unions said they negotiated extended 
benefits to the dismissed workers, including health coverage 
through the end of 2016.   
    ($1 = 3.30 Brazilian reais) 
 (Reporting by Ana Mano; editing by Grant McCool) 
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