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Merged Telefonica, E-Plus to close 600 shops

Wednesday 12 February 2014 | 14:56 CET | News
The merger of Telefonica Germany and E-Plus will result in cost savings of around EUR 404.7 million by 2018 at the group's headquarters in Munich, reports the 'Rheinische Post' newspaper citing a PwC document prepared for Telefonica Germany's extraordinary meeting of shareholders. The report envisages cost cuts of EUR 10.5 million in 2014, EUR 79.1 million in 2015, and then EUR 106.7 million a year for the following two years. It targets synergies in IT, administration and office leases, as well as the loss of many jobs and closure of some sites. The combined group will have 10,000 workers -

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Categories: Mobile & Wireless
Companies: E-Plus / Telefonica Germany
Countries: Germany
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