Telefónica de España set to lose 15,000 staff

25 Jun 2003

Telefónica’s domestic fixed line operation Telefónica de España is expected to present plans to unions to lose 15,000 of its 45,000-strong staff over a five year period to 2007. The company plans to offer voluntary redundancy to its employees; speculation suggests that the costs of the programme could run up to EUR3 billion.