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 intends to cut between 1,600 and 1,900 out of 9,100 jobs at telecommunication service providers O2 and E-Plus. The reduction shall be implemented by 2018.
According to the management, both companies will be affected to the same extent. Telefónica wants to reduce double structures and become more efficient. The company wants to avoid operational dismissals. Recently, it turned out that the measure will also affect 150 management staff of the two companies.
In October 2014, Telefónica has acquired E-Plus for EUR 8,6 billion. The company is currently preparing the fusion of O2 and E-Plus.
Sources
25 November 2014: Handelsblatt online
5 November 2014: mobilfunk-talk.de
18 October 2014: Süddeutsche Zeitung
Citation
Eurofound (2014), Telefónica, Merger/Acquisition in Germany, factsheet number 77961, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77961.
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