Telefónica's workforce will be reduced by 2,636 workers, the exact amount that has adhered to the voluntary leave plan opened by the Spanish multinational, with a deadline for the adscriptions that ended on the last day of October.

The Individual Suspension Plan (PSI), of a voluntary nature, covers employees with 53 or more years , with a section of forced departures raised for those over 65 who still remain in the workforce of the telecommunications company. Each of these last departures for retirement-age personnel would imply the hiring of two workers, with the commitment that at least half of these will be less than 35 years old.

According to sources from the company, there have been more interested in the fork of the 53 years (born in 1966) than in that of the elderly of that age, who in the past were able to take advantage of other similar plans of the company to lose their workforce.

Telefónica's retirement plan obtained the signature of the workers' representatives last September, an approval of the unions that seemed foreseeable, since the initial conditions offered this time by the company already matched the definitive ones that resulted from the negotiations developed in the previous PSI.

The company provides 68% of the remuneration to those who benefit from the formula, until they reach retirement age, and the right to various social benefits acquired, for example, medical insurance.

Although this retirement plan was in principle open to about 4,500 employees, the provision made by Telefónica, of 1,600 million euros, suggested a number of subscriptions around the figure of 2,636 employees, announced by the company this Monday - Tuesday, Telefónica presents the results for the third quarter of this year. Consequently, less than 60% of the workers who could have taken part in this process have joined. In previous PSI the percentage had been higher; The immediately previous one, undertaken from 2016 to 2018, concluded with more than 6,100 departures from the company .

With this new plan, Telefónica expects average annual savings in direct expenses of around 220 million euros as of 2021.

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