The telecommunications company agrees with the unions and reduces its workforce by 11%, all over 55 years of age
A total of 2,418 workers from Telefónica have accepted the plan incentivized dismissals raised by the company to reduce its workforce and labor costs. The telecommunications company agreed last December with UGT Y CCOO a voluntary restructuring for those employees over 55 years of age, according to union sources. The firm directed by José María Álvarez-Pallete thus reduces 11% of its workforce and chains another plan for dismissals, a common practice in recent years to reorient the size of the workforce. The last one was closed in 2019 and meant the dismissal of 2,600 people.
Finally, 2,418 workers, out of the maximum of 2,983 people that the company had set, will take advantage of the voluntary departure package. The cost for the firm will be around 1,500 million euros and the conditions will be as follows. For those people born in 1967, the equivalent of 68% of salary will be maintained (between unemployment benefit and company supplement) until age 65. And for those born before 67, this percentage will be 65%. The company will also maintain the contributions to the pension plan, with the obligation that the worker also contribute their part. The company will communicate to the volunteers the authorization of their dismissal during the next two weeks and the definitive departures will take place throughout the month of February.