Irish telephone company Eircom is negotiating up to 1,200 layoffs with unions. Although details have not been released, the firm is planning the job cuts as part of a wider restructuring effort. Eircom is looking to shore up financial stability in the wake of a tender offer for its parent company, Babcock Brown Capital, by investment fund Taemas Bridge. A successful buyout would mean a fourth new owner for Eircom in just 10 years ? something the company opposes. Some Irish politicians have suggested the company be nationalized.
See "Eircom Is in Talks With Unions That May Lead to 1,200 Job Cuts", Ian Guider, Bloomberg News, April 19, 2009