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Telefónica signs the ERE for 3,421 employees that will cost 1,300 million

Telefónica has closed today with the unions the ERE for 3,421 employees, with an expense that the operator has placed at 1,300 million.

Telefónica has closed today with the unions UGT, CCOO and Sumados-Fetico the ERE by which it will reduce its workforce in Spain by 3,421 employees . The operator has informed the CNMV that it foresees a cost of 1,300 million for these layoffs, which represents a unit cost of 380,000 euros per worker, well below the cost of the latest exit plans.

The company has indicated in a relevant fact that “the current value of the Plan expenditure is estimated at a provision of around 1,300 million euros (before taxes), without impact on cash. The average annual savings of direct expenses will be around of 285 million euros from 2025. In any case, the impact on cash generation will be positive from 2024 , as will the capture of savings, since the departure of employees is estimated to take place from the first quarter of 2024. “.

The agreements have been unanimously supported by the company and the workers’ representation (UGT, CCOO and Sumados), with 24 votes in favor , zero against and no abstentions, as reported by the company to the National Markets Commission. and Values.

As CCOO sources had informed Europa Press, the union was still waiting for its state council to meet this Wednesday morning to ratify the pre-agreements of the collective agreement of related companies and the collective dismissal, as has finally happened, since some areas of the union had been against the approval of the ERE due, mainly, to the insistence on the part of the company that, in the event that the total number of planned departures with voluntary resignations was not reached, there would be forced dismissals .

Cut casualties

Telefónica has proposed 2,958 departures for Telefónica de España , almost 28% less than the 4,085 that were proposed at the beginning of the negotiations; 397 in Telefónica Móviles , almost 59% less than the initial 958, and 66 in Telefónica Soluciones , almost 19% less than the initial 81.

Therefore, the company has reduced the impact of the collective dismissal by 33% in relation to the 5,124 departures that it proposed to the unions at the beginning of the negotiations.

Likewise, the company has improved the economic conditions offered to employees who will finally leave the company and has brought them into line with those of the previous exit plan, negotiated in 2021.


In the proposal conveyed to the unions on December 21, Telefónica offered employees born in 1968 an income of 68% of the regulatory salary until the age of 63 and 38% until the age of 65.

For those born in 1967, 1966, 1965 or 1964 , 62% of the regulatory salary until age 63 and 34% until age 65, to which is added a voluntary bonus of 10,000 euros.

Meanwhile, for workers born in 1963 or previous years, it offers an income of 52% of the regulatory salary until age 63 and 34% until age 65, to which it has also added a voluntary bonus of 10,000 euros.

Likewise, the final ERE proposal by Telefónica includes the reversibility of income, which implies that in the event of death the legal heirs will receive the pending compensation.

Also included is the payment of the employee’s Social Security discount during unemployment, group insurance up to age 63, and 100% basic health policy up to age 63 (or as long as the Special Social Security Agreement is paid).

In addition, it includes the departure of the 100 employees who were not able to do so in the previous exit plan , among other issues.

The period of affiliation to the ERE will take place between January 9 and February 8, 2024 and the company’s response will be on February 14. Departures will mainly begin on February 29 of next year , but the ERE will be open until March 31, 2025.

New agreement

In turn, on December 21, Telefónica and the unions reached a pre-agreement for a new collective agreement of related companies (CEV) that will come into force on January 1, 2024 and will extend until December 31, 2026, although with the possibility of extending it for another year.

This pre-agreement includes issues such as the maintenance of the current salary review clause linked to inflation , which takes the form of a proposal for a salary increase of 1.5% per year and a review in relation to the CPI at the end of the agreement.

Also an October “productivity bonus” of 300 euros with 150 euros consolidated for each year of validity of the agreement and the maintenance of bienniums and seniority without limitation.

Regarding the working day , the company accepted the unions’ request to reduce it to 36 hours during the validity of the agreement, while including six days for “unforeseen and urgent matters or personal matters without justification.”

Another element that it includes is the flexible weekly working hours, where the bonus will be improved “up to 30% of the consequent reduction.”

The current dental policy will also be maintained and will be extended to the entire staff of the three legal companies (Telefónica de España, Móviles and Soluciones).


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