Vodafone plans up to 1,300 job cuts in Spain
29 July 2015 |
Vodafone Group is to cut up to 1,300 jobs in Spain, following the acquisition of Spanish cable operator Ono.
The operator said negotiations with employee representatives will begin on September 2015 in a move that could see nearly 25% of its workforce affected.
"The collective dismissal procedures will affect a maximum of 1,300 people" said the company which employs approximately 6,100 people in Spain. "The procedures are part of the integration process of Vodafone and Ono."
Vodafone acquired Ono for €7.2 billion in March 2014, adding broadband and cable services to its Spanish mobile business.
In addition to the acquisition of Ono, the redundancies are also a result of the decrease in sales and EBITDA of both companies, as well as large investments in next-generation networks.
Last week, the company reported a 1.5% decrease in Q1 revenue in Europe. Revenues in Spain declined 5.5% last quarter from the previous year.
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