Telefonica could cut workforce by 20%

Telefonica is studying ways of boosting productivity and introducing more flexibility in its operations in Spain, including, amongst other things, a 20% reduction in its workforce.

Certain activities are likely to be outsourced to service providers and staffing restructured to give the company more flexibility and to compensate for possible delays in the economic recovery of the country.

Telefonicia is also looking at the possibility of linking wage increases more to productivity than to the CPI.

As part of the scheme to reduce costs, management positions in the company are expected to be cut by 6%.

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