Tim prepares new “voluntary” cuts for 2,000 employees
Tim want to cut up to 2 thousand jobs with voluntary exits using the isopension tool. In reality, the 2 thousand redundancies are part of the 9 thousand announced in the three-year plan to 2025 presented last year which this year has already seen the exit of 1,200 employees.
I labor unions, who met with top management, said they were nonetheless concerned not only about the company’s continued request for personnel cuts, but above all about the plan that sees the company split into two parts between network and services. On the network front there are two offers, one from the fund Kkr and the other of Cdp which are judged by Tim’s majority shareholder, Vivendi which has 23.9%, insufficient. On this front, the two teams have until April 18 to submit an improved offer therefore, just in time for Tim’s shareholders’ meeting scheduled for the 20th of the same month.
The instrument of isopension
As regards this round of redundancies, according to the unions, a problem lies ahead. Indeed l’isopensionea provision introduced with the Fornero law in 2012, allows workers, who are no more than 7 years away from retirement age, to leave their jobs taking directly from the company a exodus allowance which, however, is lower of at least 200 or 300 euros compared to the pension which they will then go to collect. And therefore, given the high cost of living due to inflation, many employees may not accept.
Tim isn’t the only big name to have asked to lighten his workforce. Also Vodafone he announced to the unions, the negotiations have not yet begun, his intention to send a thousand employees home. With WindTre instead the trade unions will have a meeting on 29 March next. The company would be ready to sell part of the network assets to the Swedish private equity fund Eqt. The sale would impact 2,000 employees. Overall, the telecommunications sector in Italy has lost more 70,000 employees in ten years.