MADRID, Nov 30 (Reuters) - Telefonica will offer
voluntary redundancy to staff born in 1967 or earlier and with
at least 15 years of employment at the company, the UGT union
said on Tuesday, calculating that 3,261 employees would meet
Europe's third-largest telecoms group and direct employer of
16,000 people in Spain would limit take-up of the offer to 60%
of eligible staff, UGT said, adding that consultancy group KPMG
has helped to formulate the plan.
Some departments are set to be spared, such as those focused
on cybersecurity, marketing and artificial intelligence, UGT
representative Diego Gallart told Reuters.
"Most of the redundancies will be offered in the network
deployment, maintenance and more basic customer service
departments," Gallart said.
"But it's hard to say whether uptake will be in line with
previous averages of 70% because the more senior staff are being
presented with worse conditions than in past packages and may
not find the current one appealing."
Telefonica declined to comment on what it said were ongoing
negotiations with trade unions.
A source with knowledge of the matter had initially told
Reuters that 2,000-4,000 jobs would be cut, making Telefonica
the third major telecoms group to seek redundancies in Spain
this year after similar moves by Vodafone and Orange.
Telefonica has been grappling with intense competition in an
increasingly low-cost Spanish market as well as pressure from
The mobile and broadband operator swung to a third-quarter
net profit this month thanks to the performance of its foreign
However, core profit in Spain fell 8.9% year on year and
operations chief Angel Vila told analysts that soaring power
costs would continue to weigh on profitibility in the coming
(Reporting by Clara-Laeila Laudette
Editing by Andrei Khalip and David Goodman