Mobilcom AG
MobilCom AG english
Management decides on restructuring plan
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Management decides on restructuring plan
MobilCom AG’s Management today presented to the Employee Council the main
features of a restructuring plan that will strengthen MobilCom’s underlying
business. The restructuring programme has two key elements. Restructuring the
core mobile business will save around Euro130 million a year. A short-term
operational aim is to return the service provider business to profitability in
the first half of 2003. Additionally, the Company will adjust its UMTS
activities to its financial situation and the business environment. MobilCom
will freeze the rollout of the UMTS network, but will hold on to the licence.
Altogether, the restructuring programme envisages cutting about 1,850 full time
employments. MobilCom has actually 5,000 employees including part-time
employees and temporary staff (which means 4,200 full time employments). The
Management and Supervisory Committee will negotiate an appropriate Social Plan
and balance between the interests of the company and employees in the next few
weeks.
end of ad-hoc-announcement (c)DGAP 27.09.2002
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WKN: 662240; ISIN: DE0006622400; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart; EUREX
271029 Sep 02
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