Telefónica

Type
Internal restructuring
Country
Spain
Region
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications
6,500 jobs
Number of planned job losses
Job loss
450 jobs
Number of planned job creations
Job creation
Announcement Date
14 July 2011
Employment effect (start)
Foreseen end date
31 December 2013

Description

The Spanish government has approved the redundancy procedure presented by the telecommunications company Telefónica which will affect 6,500 employees. The measure had been previously agreed on with the trade unions and is linked to a new collective agreement. This collective agreement includes, among other points, Telefónica's commitment to prevent any redundancies beyond the initially announced 6,500, the recruitment of at least 450 new employees and the setup of a grant programme for young workers.

Furthermore, the enterprise has been forced to reimburse the government for the costs associated with the resulting unemployment subsidies.

Sources

  • 14 July 2011: El País

Citation

Eurofound (2011), Telefónica, Internal restructuring in Spain, factsheet number 72610, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72610.