Vodafone plans massive Spain job cuts

2015-07-29 07:53
Post a comment 0

Vodafone. (Duncan Alfreds, Fin24)

RELATED ARTICLES

Madrid - British telecom giant Vodafone said on Tuesday it planned to lay off up to 1 300 workers, about a fifth of the workforce, from its Spanish division which bought cable provider ONO in 2014.

Vodafone Espana and ONO said they would launch a month of negotiations with labour unions in September to reach "the best agreement possible for employees and both companies" on the layoffs.

"The collective dismissal procedures will affect a maximum of 1 300 people" out of a total of around 6 100 in Vodafone and ONO in Spain, it said in a statement.

"The procedures are part of the integration process of Vodafone and ONO."

Vodafone bought phone and internet provider ONO for €7.2bn ($8bn) last year and has been integrating ONO's cable network into its own wireless services.

It said the layoffs were necessitated by the merger and essential investments as well as falling earnings by both companies in a market still recovering from an economic crisis.

Read more about: vodafone  |  mobile  |  companies

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.