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General

Telefonica Spain looking to cut 5,000 jobs through voluntary retirement - report

Wednesday 11 September 2019 | 08:45 CET | News
Telefonica is looking to reduce its Spanish workforce by around 5,000 jobs through a new voluntary retirement plan, according to unnamed sources cited by Bloomberg. Initial talks have already been held with unions on an incentivised retirement plan for workers over 53 years of age, with one source indicating that a formal proposal will shortly be submitted to unions. The company brought forward a board meeting by more than 2 weeks to 10 September to discuss plans to reduce its debt pile and boost its share price, said the report.

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Categories: General
Companies: Telefonica
Countries: Spain
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