Type
Internal restructuring
Country
Portugal
Region
Continente;
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications

1,500 - 1,600 jobs
Number of planned job losses
Job loss
Announcement Date
1 November 2003
Employment effect (start)
Foreseen end date
1 December 2004

Description

The President of the Executive Commission of the Portugal Telecom announced that the reduction of staff in the PT Communications will carry on in 2004, making between 1,500 and 1,600 additional workers redundant. The profits of the company had lowered by 13.1% in the nine first months of 2003, compared to the same period in 2002.


Sources

  • 1 November 2003: Correio da Manhã

Citation

Eurofound (2003), PT - Portugal Telecom, Internal restructuring in Portugal, factsheet number 59725, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59725.