International Business
From Times Staff and Wire Reports
Germany Announces Privatization of 3 Services: The government will split its mammoth postal, banking and telecommunications monopoly into three private companies effective Jan. 1, but the state will not be bowing out completely. Most of the three services’ workers are civil servants, which will make the changes and planned job cuts, including early retirement, difficult and costly, critics say. Furthermore, the companies’ activities will continue to be overseen by the Post Ministry.
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