Type
Internal restructuring
Country
Spain
Region
Comunidad de Madrid;
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications

1,080 jobs
Number of planned job losses
Job loss
Announcement Date
24 October 2008
Employment effect (start)
1 January 2009
Foreseen end date
6 April 2009

Description

ONO, a Spanish cable operator, is to cut 1080 jobs, following an announcement to cut 1300 jobs from a total of 4,300 workers. It was announced in October 2008 to cut 1300 jobs and this was revised in December to 1080. This respresents a 30% reduction in its workforce of 4,300 workers. The redundancies are due to the economic slowdown, and with this move, ONO aims to counteract the negative effects of the economic crisis and improve the quality of the customer service.


Sources

Citation

Eurofound (2008), ONO, Internal restructuring in Spain, factsheet number 67292, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67292.