P.M. BRIEFING : Olivetti Plans to Dismiss 7,000
Olivetti, Italy’s office equipment and computer giant, faced with dropping sales and sharp international competition, plans to dismiss about 7,000 workers worldwide, a Cabinet minister announced today.
Labor Minister Carlo Donat Cattin said the company wants to reduce its work force by 4,000 people in Italy and 3,000 abroad.
The company is controlled by Italian financier Carlo de Benedetti and employs about 57,000 people. A company spokesman said a meeting with unions has been called for later today, but he refused to disclose whether dismissals or layoffs would be discussed.
About half of Olivetti’s work force is employed outside Italy.
The major operations abroad include Triumph-Adler, a typewriter manufacturer in Germany, and Bunker Ramo Corp., which specializes in bank automation systems in the United States.
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