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

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
27 May 2004
Employment effect (start)
27 May 2004
Foreseen end date
30 December 2005

Description

Portugal Telecom (PT) announced a restructuring plan affecting 1,500 workers by the end of 2005, through early retirement measures. The cost of this restructuring plan represents about 300 million euros. By July 2004, 500 workers will be dismissed. The rest of the redundancies will be effective before end 2005.


Sources

  • 27 May 2004: Diário de Notícias

Citation

Eurofound (2004), PT - Portugal Telecom, Internal restructuring in Portugal, factsheet number 60357, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60357.