--Telecom Italia reached an agreement with unions late Monday to cut labor costs for savings that would equal 4,500 layoffs, Reuters reports, citing unnamed sources.

--The agreed measures include the implementation of so-called solidarity measures--which include reduced working hours--for about 30,000 workers for a duration of 12 months, according to Reuters.

Full story: https://reut.rs/2LGOHsK

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(END) Dow Jones Newswires

June 12, 2018 04:47 ET (08:47 GMT)

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