Vodafone Spain has announced a new cut in its workforce of up to 515 people, around 12 per cent of its staff, due to tough market conditions.
This is the second job reduction plan after the company shed 1,000 workers, 20 per cent of the staff, in 2019.
The new redundancy plan will mainly affect commercial areas. Trade unions have been called to negotiate the terms from the end of September and complete it in a month.
Vodafone Spain has noted that economic, production and organizational reasons are behind the decision to cut those jobs. The company stated that tough competition in the market along with low cost offers have brought together “a strong fall in revenues and significant damage to margins” so a re-positioning of the group is required.