Deutsche Telekom, works council agree on restructuring of T-Systems

• Agreement includes moving large parts of business to a newly created German subsidiary.
• Nobody would be disadvantaged because of the step.

FRANKFURT: Deutsche Telekom has reached an agreement with its works council on the restructuring of its troubled T-Systems IT services unit, a German newspaper reported on Friday.

Handelsblatt, citing unnamed company sources, said that the agreement includes moving large parts of business to a newly created German subsidiary, affecting more than 2,000 staff.

The company was not immediately available for comment. Handelsblatt cited a Deutsche Telekom spokesman as saying that nobody would be disadvantaged because of the step.