Telefonica will meet with the trade unions this Monday and, as expected, will propose a large-scale introduction of ERE in Spain. A mass exit process that, like previous steps, requires autonomy and can have consequences. Between 6,000 and 7,000 … employeeaccording to Expansion.
The possibility of ERE is something the president has talked about in recent months. Mark Murtolapropose a review of the group’s overall strategy. A few days ago, the company already announced a new strategic plan that includes cost savings of up to 3 billion euros by 2030. The reduction will result in this ERE, although neither Mr. Murtola nor CEO Emilio Gayo avoided mentioning those words to the media or investors.
Asked by the media about Telefónica’s ERE, Gayo said the plan incorporates “all the savings that are possible, everything”, adding that if these savings were to be included, “it is a people-related issue and we will always do it in cooperation with the workers’ representatives.”
This “coordination with worker representatives” is scheduled to begin this Monday with a first meeting with the operating company’s main trade unions. U.G.T., CC.OO. and smados fetish. Headquarters has made it clear that this appointment is a courtesy interview to convey ERE’s full approach, with a formal presentation to follow immediately. As announced by Expansión, this will not be a single procedure, but seven EREs involving seven companies: Spain, Móviles, Soluciones, Centro Corporativo, Movistar+, Global Solutions and Innovación Digital.
The expectation is that autonomy will prevail, but a process of this nature does not preclude compulsory redundancies if the required quotas are not met. In any case, the initial approach is to predict that between 6,000 and 7,000 people could be affected, and any final agreement reached with trade unions will always end up lowering the figure.
This is what happened with Telefonica’s last ERE. The operator announced a process of redundancy for 5,124 employees, but negotiations with trade unions ultimately reduced the number of affected employees to approximately 3,400.
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