It's the scale of the downsizing that prompts this post -
“The challenges facing Eircom are significant. They require a fundamental transformation in the way we are organised, the business activities we prioritise and the work practices we have adopted in order to substantially reduce our costs and become more efficient,” said Herb Hribar, Eircom Group CEO.Good luck with that. Competition means you can't operate the same way you did as a monopoly telecom, and the speed with which telecom firms can bring costs and practices in line, the greater the odds for long-term survival.
Source - Eircom to slash 2000 jobs, Telecoms.com