Deutsche Telekom posted a fourth quarter loss, due to struggling landline units and charges for cutbacks. Europe’s largest telecom posted nearly a 2% fall in adjusted profit for the quarter to $1.22 billion. Net loss was down to $1.14 billion from $1.36 billion for the same period last year. The telecom said it reported $2.12 billion payment for early retirement of civil servants and other gains and losses. Earlier, the company announced it will cut 32,000 jobs.
Revenue was also down at U.S. subsidiary T-Mobile USA for the first time, as the dollar continues to drop against the euro. Though Deutsche Telekom CEO Rene Obermann said he is still optimistic about the U.S. unit.
The telecom also announced that it proposed Ulrich Lehner, currently CEO at Henkel, to replace to Klaus Zumwinkel as chairman of the board. Zumwinkel resigned this month amid a tax-evasion scandal.