Vodafone

Type
Internal restructuring
Country
Spain
Region
Location of affected unit(s)
Sector
Information / Communication
Information Communication Services
Telecommunications
61.2 - Wireless telecommunications activities
620 jobs
Number of planned job losses
Job loss
Announcement Date
18 January 2013
Employment effect (start)
31 January 2013
Foreseen end date

Description

The multinational telecommunications company Vodafone announced plans to launch a Redundancy Procedure affecting 900 employees (21% of its entire workforce).

The company has offered severance pay equal to 30 to 32 days per year worked, up to a maximum of 12 months. The restructuring also includes other cost-cutting measures, including the reduction and/or elimination of certain employee benefits.

The unions have criticised the measure and have asked the company to look for other alternatives.

Updated, 15/02/2013: As announced the final plan includes 620 job cuts.

Sources

  • 15 February 2013: Reuters
  • 18 January 2013: Cincodias

Citation

Eurofound (2013), Vodafone, Internal restructuring in Spain, factsheet number 74791, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74791.