German DT Workers to strike on pay cuts and more hours

I don't think it's right when companies decide to cut workers pay, yet the executives won't take major pay cuts. In my opinion the workers might go for a 4% pay cut, if all the executives took a large cut & didn't take any options or stocks for benefits.
We all know they wouldn't do that though & unfortunatly I can see them cutting jobs just so they can make more money in revenues for them & the shareholders.

German telecoms workers continue strikes against pay cuts

Cologne, Germany (dpa) - Deutsche Telekom vowed Thursday to press
ahead with a controversial cost-cutting programme as workers at
Germany's largest telecommunications provider continued their warning
strikes.


The measures, which include transferring 50,000 jobs to lower
paying service units, were needed to improve competitiveness, Telekom
chief executive Rene Obermann said.

They were also in the best interests of the employees, Obermann
told the company's annual general meeting to a mixture of applause
and jeers from shareholders.

The Telekom boss called on workers to reconsider management's
proposals, which were rejected by the powerful services union ver.di
on Wednesday.

Faced with big fixed-line subscriber losses, Telekom wants to cut
workers' pay by 9 per cent pay and increase the working week by four
hours to 38 hours in return for job guarantees until 2011.

The union, which has called a series of token strikes lasting an
hour or two over recent weeks, says it will accept the longer working
hours but not the planned pay cut.

Some 15,000 Telekom workers downed tools in a series of stoppages
on Thursday. On Friday, ver.di leaders are due to discuss whether to
call a ballot of members for all-out strike action.



www.cellular-news.com/story/23560.php