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Cisco confirms plans for 5,500 job cuts, Q4 sales fall 2%
2016-08-18 08:23:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenues for its fiscal fourth quarter to July down 2 percent year-on-year to USD 12.6 billion. Excluding the sale of its set-top box business, revenue was up 2 percent from a year ago. Net profit jumped 21 percent to USD 2.8 billion, and EPS increased 24 percent to USD 0.56. Cisco also confirmed that it plans another round of restructuring in order to lower its cost base and reinvest the savings in priority areas such as security, IoT, collaboration, data centre and cloud. The restructuring will eliminate up to 5,500 positions, or around 7 percent of its global workforce.
Job cuts in LSE-Deutsche Boerse merger
2016-06-01 16:27:03| BBC News | Business | UK Edition
The London Stock Exchange Group says its forthcoming merger with Deutsche Boerse could lead to as many as 1,250 job losses.
Nokia job cuts could number 15,000
2016-05-24 02:00:00| Total Telecom industry news
Finnish union representative suggests vendor could cut up to 14% of its global workforce to meet cost synergy targets.
Telecom Italia mulling 15,000 job cuts on Enel plan - report
2016-04-07 10:09:00| Telecompaper Headlines
(Telecompaper) Telecom Italia is considering cutting up to 15,000 jobs, equivalent to nearly 30 percent of its workforce, due to increased competition arising from the fibre-optic broadband rollout plans of Italian utility giant Enel, according to unnamed sources cited by Bloomberg. Enel recently confirmed plans to invest a total of EUR 2.5 billion to help bring high-speed broadband to around 7.5 million homes in 224 Italian cities. The sources said Telecom Italia may lose around 5 million wholesale customers as a result, most of them from Vodafone Italia and Wind, with Telecom Italia increasingly frustrated by a plan it considers to be unfair competition. Vodafone Italia and Wind are expected to reach a strategic and commercial partnership with Enel to develop the broadband network across Italy.
Telecom Italia plans massive job cuts in wake of Enel network project
2016-04-07 02:00:00| Total Telecom industry news
Italian telco will reportedly cut 15,000 positions, or close to 30% of its workforce, sources say.
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