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Deutsche Telekom cuts costs

Deutsche Telekom cuts costs
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German phone company Deutsche Telekom is cutting costs.

It plans to combine its fixed line and its wireless units into a single division. Management were swift to deny that this was a job cutting programme. Instead the company said it will save processing and IT costs, and there will be a management reshuffle. Last week Deutsche Telekom slashed its outlook for 2009, because of slumping profits in the US and the UK.