In labor dispute, T-Systems offers to extend job-cut pledge [Seeking Alpha]
UBIQUITI NETWORKS (UBNT)
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Source: Seeking Alpha
T-Systems, the struggling IT services wing of Deutsche Telekom ( DTEGY ), is offering to extend a promise to refrain from compulsory job cuts by two years. The unprofitable unit's CEO has said he wants to cut 10,000 jobs in a turnaround effort, but in a concession to workers plans to hold off on forced cuts until the end of 2020 -- provided T-Systems hits business targets. The offer assumes a pay raise of 1.6% next April 1. That offer coincides with a walkout by the Verdi services union, which is pressing for a 5.5% raise for 11,000 workers. Click to subscribe to real-time analytics on DTEGY Now read: Ubiquiti Networks: Pulled By Strong Industry Trends, Finances With A Question Mark » Subscribe for full text news in your inbox
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