Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Telefónica CR, a subsidiary of Spanish broadband and telecommunications provider Telefónica, has announced 280 redundancies by the first quarter of 2012. The cuts will be implemented in the frame of a significant cost savings programme.
Among them, about 100 "white collar" positions will be affected. According to the company's press agent, Telefónica aims to reduce the number of managerial positions, which are expensive and often redundant. Other branches of Telefónica see job growth: in January 2012, the company announced the creation of 150 call centre jobs in Ostrava (see here).
Telefónica CR is the largest telecommunications company in the Czech Republic and currently employs 6,800 people.
Eurofound (2012), Telefónica CR, Internal restructuring in Czechia, factsheet number 73187, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73187.