Via Yahoo! News:
FRANKFURT, Germany – Deutsche Telekom AG said Wednesday it plans to eliminate 19,000 jobs over three years.
The Bonn-based company said the cuts would include voluntary buyouts, layoffs and outsourcing of some jobs.
It said the process would cost a total 3.3 billion euros ($3.9 billion).
This shows a few things. First, DT is one of the worlds largest telecom companies, yet they are laying off 19K. Looks like the German economy is doing swimmingly, eh? Second, the purpose of layoffs is to save money, not spend, particularly not $3.9 billion. Finally, will the MSM’s complain about the outsourcing? Of course, to be fair, outsourcing is not currently on their talking points bulletin board at the moment.
