Vodafone, ONO to fire 1,200 workers after merger
DetailsJuan Fernandez Gonzalez | 29 July 2015
Vodafone Spain is to fire just under a quarter of its staff after concluding integration of the acquired cable company ONO.
The telco's announcement comes shortly after launching the first merged commercial offer and having already restructured the company's direction.
According to the newspaper El Economista, Vodafone made its decision on the incomes and EBITDA drops during last years as well as the redundancies generated after the merger. The move will affect between 1,200-1,300 workers; over three fifths will be former ONO personnel.
"The staff's reduction is a necessary move part of the integration plan in order to complete a efficient and competitive organisation", said Vodafone in a public release.
The consultation period will open on 1 September and will last during one month, during which the company will negotiate conditions, applications and timeline with the workers and their representatives.
The announcement arrives one year after the European Commission approved the deal, after ONO agreed to Vodafone's €7.2 billion buyout in March 2014. The first commercial offer, including pay-TV service Vodafone One TV, was launched three months ago.