Sat. Nov 16th, 2019

More than 2,600 workers join the voluntary leave plan

A total of 2,636 workers from Telefonica, 10.4% of the workforce in Spain, have voluntarily adhered to the Individual Employment Suspension Plan (PSI), which promoted the company as a strategic measure to improve your result, according to operator sources.

This plan, which affects the employees have this year 53 years or older, it was launched by the group in Spain after it was approved in a board of directors that was held in September, which was marked by the decline in the share price, and in which the sale of some 50,000 was also agreed The operator's telecommunications towers either its subsidiary Telxius or a third party.

The executive president of Telefónica, José María Álvarez Pallete

The executive president of Telefónica, José María Álvarez Pallete
(Dani Duch)

When announcing the plan the company contemplated an allocation of 1.6 billion euros to face this process, which would mean, according to their calculations, a saving in direct expenses of about 220 million euros per year from 2021, depending on the employees assigned, according to Telefónica informed the National Commission of the Stock Market (CNMV ).

The operator said Monday that the volume of accessions to this plan is "similar" to the previous one. Trade union sources have assured Efe that the company initially estimated that some 3,000 workers of Telefónica España, Telefónica Móviles and Telefónica Soluciones would adhere to this plan. The number of people that could be ascribed was about 4,900, according to sources.

At the end of June, the workforce of Telefónica España, Telefónica Móviles and Telefónica Soluciones was 25,353 employees, according to union sources. To these employees, we must add the 60 that work in the subsidiaries of the operator, to which the PSI was also opened.

Discharge Plan

68% of salary up to 65 years

Employees assigned to this PSI, which contemplates the same conditions as the one that the operator launched in 2016, will charge 68% of the gross salary up to 65 years. All of them had more than a month to sign up for this plan, whose term of accession ended on Thursday.

All those who have signed up for this plan have already suspended the contract, except those who turn 53 in November and December, who will leave the company as they are at the stipulated age. The Telefónica centers of all the autonomous communities were affected by this plan, although unevenly.

The agreement of the PSI coincided with that of the collective agreement for the next three years, which includes, among other points, a salary increase for the entire workforce of 1.5%

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