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Telefónica agrees to leave 2,700 employees in Spain for almost US $ 1,700 million

The Spanish multinational company Telefónica, which has a significant presence in America, agreed to leave some 2,700 employees in Spain, at a cost that the company estimates at around 1,500 million euros (almost US $ 1,700 million).

Telefónica reported the agreement with the General Union of Workers (UGT) and Comisiones Obreras (CCOO), the main unions in the country, to which it expects that around 15% of the joint workforce of all its subsidiaries in Spain can join.

The agreement is open to employees born since 1967, with a seniority in the company of 15 years, and Telefónica estimates that about 2,700 workers will be welcomed, which would mean that cost of about 1,500 million euros in 2021 but then annual savings above 230 million (about US $ 260 million) as of 2023.

In any case, the cash impact generated will be positive from 2022 as well as the capture of savings, since the departure of employees is expected to take place during the first quarter of 2022″ Explains the company.

The agreement includes up to 68% of salary, depending on age, and measures to support workers until they can access ordinary retirement at 65, in addition to maintaining group insurance, contributions from a pension plan and policy of health.

In addition to Spain and other European countries such as Germany and the United Kingdom, Telefónica It has a presence in a large part of Latin America and in the United States, with firms such as Movistar and Terra.


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