© Reuters. FILE PHOTO: Telecom Italia (TIM) logo is seen displayed in this illustration taken May 3, 2022. REUTERS/Dado Ruvic/Illustration

MILAN (Reuters) – Telecom Italia (BIT:) (TIM) is seeking to cut as many as 2,000 jobs in Italy through a voluntary early retirement scheme as part of the former phone monopoly’s efforts to streamline its domestic operations, sources familiar with the matter said.

Fresh plans aimed at reducing a workforce which numbers some 40,000 in Italy were discussed at a meeting with unions on Tuesday, the sources said.

Debt-crippled TIM is seeking an ambitious overhaul of its operations, which have been under pressure for years due to intense price competition in its key domestic market.

Last week the company formally launched a bidding process to sell its prized landline network assets and its submarine cable unit Sparkle.

Read More about Business News