(MENAFN) Deutsche Telekom is reportedly planning to slash 4,000 jobs worldwide, mainly in its IT services business T-Systems, Xinhua reported.
The company said that it is facing severe competition in the IT outsourcing business, which is resulting in a price war with newcomers such as Tata.
The company's statement said that the new plan will allow its T-Systems division to lay focus on the application of services.
The plan to cut the jobs will be carried out in a three year period. Deutsche Telekom currently has nearly 50,000 employees around the globe.
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