Vodafone plans to cut up to 1,300 jobs in Spain
by Agency staff,
2015-07-28 17:58:56.0
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 last year.
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 about 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 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.
AFP
ASPIRATIONS: With potential buyers likely tied up with other deals, Vodafone will be on its own into building up out its internet infrastructure and restoring revenue growth. Picture: BLOOMBERG
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 last year.
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 about 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 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.
AFP
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