Dutch telecom firm KPN to cut 4,000-5,000 jobs by 2015

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Dutch telecom firm KPN said on Thursday it would cut 4,000 to 5,000 jobs in The Netherlands between 2011 and 2015.

A programme for cutting 4,000 to 5,000 jobs, or 20-25 percent of the workforce in The Netherlands, was being prepared for the period of 2011-2015, the company said in a statement.

KPN, which employs 30,599 people, has revised downwards its gross operating income for 2011 to 5.3 billion euros ($7.7 billion).

It had said previously it expected the year's result to be higher than last year's 5.476 billion euros.

"We face negative trends in The Netherlands," executive director Eelco Blok said in the statement.

The company is to present its first quarter results on April 28.

© 2011 AFP

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