Human Capital & Careers

Deutsche Telekom to Shrink Accounting Staff

The German telecommunications company looks to cut costs after big business losses.
Stephen TaubNovember 20, 2007

Deutsche Telekom plans to eliminate 400 finance jobs, according to reports of a story in the German-language newspaper Financial Times Deutschland.

The move, which would reduce the accounting department’s size by a third, reportedly is the result of a major loss of fixed-line customers for the German telecommunications giant. It already had disclosed plans to eliminate 32,000 other jobs by the end of 2008.

The company is said to be planning to shrink the number of German offices that handle accounting and internal audit to six from 48 and may move the remaining accounting and internal audit operations to Hungary.

A Deutsche Telekom spokesman said it is the company’s “clear goal” to keep those jobs in Germany, noted Agence France Presse, which reported on the Financial Times Deutschland story.

The newspaper also reported that Deutsche Telekom has held talks with Electronic Data Systems about a possible takeover by the Germany company. The plan would call for DT to merger EDS with its T-Systems computer services division, according to the report.