EMCC European Monitoring Centre on Change

Telefónica

Company/Organisation:
Telefónica

Geographic Location

Country: Spain

Company

Sector: Information / communication
Telecommunications
61.10 - Wired telecommunications activities
Number Employed: 23334

Employment Effects

Announcement Date: 13-01-2020
Planned Job Reductions min: 500
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-03-2020
Other Job Reduction Measures: 500

Additional Information

Telecommunications multinational company Telefonica has launched a new voluntary redundancies plan (without minimum age, unlike the previous plan). The company expects to reach 500 employees joining the plan. the plan would pay 50% of employees' salary over a ten years period for employees who have a minimum seniority of 10 years, and 60% of their salary over a five years period for workers with five to ten years of seniority in the company.

This announcement ia an additional measure following the voluntary redundancy plan that affected 2,636 employees in 2019.

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