Telefonica Czech Republic to cut staff by 10 percent

News General Czech Republic 20 JAN 2014
Telefonica Czech Republic to cut staff by 10 percent
Telefonica Czech Republic announced that it will continue the restructuring programme started in 2011. The programme in 2014 includes process optimisation and increasing efficiency of the organisational structure. This year, the company plans a 10 percent staff reduction across the company. Dismissed employees shall be entitled to severance equal to three to five times monthly salary, depending on their service period. Moreover, the company provides an outplacement programme, which includes the services of HR advisors.

Categories:

General

Companies:

Telefonica Czech Republic

Countries:

Czech Republic

Tags:

Finance, Corporate strategy

Related Articles

CZECH REPUBLIC 14 MAR 2014

Telefonica CR may change name to M Telecom

Following the purchase of Telefonica Czech Republic by the private equity group PPF, the Czech operator may change its trade name this year, although it can keep the brand O2 for four years. As the daily Sme.sk reported in February, PPF was supposed to propose the new name M Telecom for Telefonica during the shareholders meeting. However, after the shareholders meeting the name remains unchanged.  The change may occur either during the next shareholders meeting in June or before that, reports Mobilnet.cz.

CZECH REPUBLIC 13 MAR 2014

Telefonica CR makes changes to boards and staff council

Holders of 83.65 percent of shares participated in Telefonica Czech Republic's general meeting in Prague on 12 March and elected Martin Stefunko, Ladislav Bartonicek and Vladimir Mlynar as members of the supervisory board. They had already been co-opted to the board earlier. At the same time, the shareholders' meeting dismissed Lubomir Vinduska, Antonin Botlik and Jiri Trupl from the supervisory board. They had been elected by employees.

CZECH REPUBLIC 11 FEB 2014

Telefonica Czech Republic reorganises divisions

Telefonica Czech Republic has announced that it is simplifying its organisational structure. It will reduce its number of divisions from nine to seven, with employees at the discontinued divisions being reincorporated into the remaining ones. The organisational units of the Marketing Division will come under the Residential and Business Customers Division and the Strategy and Business Development Division.

CZECH REPUBLIC 30 JAN 2014

Telefonica CR changes supervisory board composition

The supervisory board of Telefonica Czech Republic has changed its composition. As of 28 January, the first vice-chairwoman of the supervisory board, Maria Pilar Lopez Alvarez, and fellow members Antonio Manuel Ledesma Santiago and Ivan Varela Sanchez resigned from their positions. Three new members were co-opted: Martin Stefunko, Vladimir Mlynar and Ladislav Bartonicek. As of 29 January, supervisory board chairwoman Maria Eva Castillo Sanz and fellow members Jesus Perez de Uriguen and Francisco de Borja de

CZECH REPUBLIC 23 JAN 2014

Vodafone Czech Republic offers Mobile Connection Turbo

Vodafone Czech Republic is introducing a new data tariff on 24 January called Mobile Connection Turbo, with a so-called smart FUP, which provides unlimited web surfing and a limit of 20 GB for downloading or sharing and streamed content. The operator is simplifying its portfolio of data tariffs, too. Customers can choose from five monthly data tariffs. Moreover, they can get the Samsung Galaxy Tab 3 10.1 or Samsung Galaxy Note 10.1 2014 Edition at a discount of CZK 2,000 with minimum monthly spending of CZK

CZECH REPUBLIC 21 JAN 2014

Czech mobile operators downsize

Czech mobile operators are downsizing, as a result of falling revenues after the introduction of flat-rate tariff plans and required investments in LTE networks, reported Hospodarske noviny. Telefonica Czech Republic expects to cut staff by 10 percent, which is approximately 500 employees. The number may, however, increase after the takeover of the operator by the private equity firm PPF. The third national mobile operator, Vodafone Czech Republic plans to dismiss 180 employees, with detailed numbers likely

CZECH REPUBLIC 17 JAN 2014

PPF expects to close Telefonica CR's takeover in January

Billionaire Petr Kellner's PPF Group expects to complete its takeover of Telefonica Czech Republic by end-January, now that it has the approval of the European Commission, reports Bloomberg. PPF confirmed it got a green light from the EC for the acquisition of 65.9 percent stake in the Czech mobile and fixed-line telecommunications operator. PPF agreed to buy a controlling stake in the provider from Spain's Telefonica for about USD 3.4 billion on 5 November. The group will make a mandatory buyout offer for

CZECH REPUBLIC 20 NOV 2013

Czech incumbents gain LTE airwaves at auction

Czech regulator CTU said that the auction for LTE frequencies in the bands 800 MHz, 1800 MHz and 2600 MHz is complete, with incumbents T-Mobile Czech Republic, Telefonica Czech Republic and Vodafone Czech Republic being the winners. Neither of the two potential new players acquired any airwaves, but MVNOs will have access to LTE networks, too.

CZECH REPUBLIC 5 NOV 2013

Telefonica CR net income down 25.4 percent

Telefonica Czech Republic announced operating revenues for the first nine months of 2013 down by 5.8 percent year-on-year to CZK 35.579 billion. In the Czech Republic, fixed revenues decreased by 4.1 percent to CZK 15.182 billion and mobile revenues fell 10.2 percent to CZK 16.641 billion. In Slovakia, revenues increased by 9.4 percent to EUR 155 million. Net income amounted to CZK 3.743 billion, a year-on-year decrease of 25.4 percent. In the Czech Republic, the mobile customer base increased by 1 percent

CZECH REPUBLIC 5 NOV 2013

Telefonica sells Czech operator to PPF for EUR 2.5 billion

Telefonica has agreed to sell a majority stake in Telefonica Czech Republic to the private equity firm PPF. For the 65.9 percent stake, which includes also Telefonica Slovakia, PPF will pay EUR 2.467 billion (CZK 63.6 billion). This includes an initial payment of EUR 2.063 billion and EUR 404 million over the next four years. Telefonica will also receive a dividend of EUR 260 million from the Czech operator before the deal closes and maintain a 4.9 percent equity stake in the company. As part of an industri

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.