Telefonica offers redundancy to over 3,000 staff
Telefonica is set to offer over 3,000 of its staff voluntary redundancy born in 1967 or earlier with at least 15 years of employment with the company.
The UGT union calculated on Tuesday that 3,261 employees would meet those conditions according to a Reuters source.
However, the operator said it will limit the take-up of the offer to 60% of its eligible staff, adding that consultancy firm KPMG had helped to formulate the plan.
Telefonica is Europe’s third-largest telco and has significant market shares in over 25 countries including Spain, Germany, the UK.
Most of the redundancies will be offered in the network deployment, maintenance and more basic customer service departments.
Departments set to be spared from the cuts include cybersecurity, AI and marketing according to a UGT representative.
The news comes as the company continues to struggle with debt in the highly competitive Spanish telecoms market.
Its core profit in Spain fell 8.9% year-on-year and
Vodafone and Orange had already made similar job cuts in Spain earlier this year.