Telefónica launches a retirement plan for the corporate center after the departure of more than 2,600 employees

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Telefónica continues to thin its structure in Spain. Only two months after launching an incentive departure plan that has received 2,636 workers with more than 53 years and a seniority of more than 15 years, the company chaired by José María Álvarez-Pallete has launched another voluntary leave program, this Once only for your corporate area but without age limit and with different conditions according to seniority. Telefónica has not given figures of the planned outputs under this formula.

Employees of the center with more than 10 years old will charge 5 fixed and variable annuities to be distributed for 10 years, and those who have been in Telefónica between 5 and 10 years will have three annuities to be distributed in five years. This plan, advanced by “Cinco Días”, is part of one of the five crash measures that includes the action plan recently deployed by Álvarez-Pallete to relaunch Telefónica.

This plan, together with the restructuring of the business in Latin America, the creation of digital business and infrastructure business subsidiaries and the reorganization of the organizational chart in Spain, includes a redefinition of the corporate center that seeks efficiency, for which it will eliminate duplication. .


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