ONO

Type
Merger/Acquisition
Country
Spain
Region
Comunidad de Madrid;
Location of affected unit(s)
Madrid
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications
987 jobs
Number of planned job losses
Job loss
Announcement Date
13 January 2006
Employment effect (start)
Foreseen end date

Description

The Spanish telecommunications Consortium ONO is specialised in telecommunications services such as broadband internet and fixed telephones. The Company ONO with 2,200 employees acquired its rival AUNA with 2,600 employees in September 2005. On 13 January 2006, ONO announced a restructuring plan affecting 1,000 employees, 21.7% of its workforce. The worker's representatives said that the measure was not understandable as AUNA and ONO offer their services in different Spanish regions.

On 16 February 2006 the company presented the final job reduction plan which will affect 987 employees.

Sources

  • 14 January 2006: El País

Citation

Eurofound (2006), ONO, Merger/Acquisition in Spain, factsheet number 62793, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62793.