Telefónica launches a layoff plan to cut almost 2,000 jobs in Spain

Telefónica launches a layoff plan to cut almost 2,000 jobs in Spain

11/30/2021

On at 15:32

CET


David Page

Telefónica has presented to the unions its voluntary departure plan with which you seek to cut almost 2,000 jobs in Spain. Employees over 54 years of age and who have been in the company for more than 15 years could benefit from the termination program, according to union sources.

In principle, 3,261 workers from the operator’s Spanish subsidiaries meet these requirements and are eligible for paid leave, but Telefónica has decided to limit the leave to 60% of potential beneficiaries: in total, the expected job cuts will be 1,957 workers.

The company will offer employees who take advantage of the retirement plan to follow rreceiving between 60 and 67% of their current salary, depending on the specific age of each of them, and that they maintain other social benefits until they reach 65 years of age (such as health policy, group risk insurance or the Pension plan). The company will assume 100% of the Social Security agreement until retirement age, so the process will not involve disbursement of public money.