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Membership in Telefónica's ERE exceeds 43%, with more than 1,470 employees already signed up

More than 1,470 employees of the Telefónica group have voluntarily signed up in two weeks for the employment regulation files (ERE) that the company will apply in its three main subsidiaries in Spain (Telefónica de España, Móviles and Soluciones).

The period of affiliation to the collective dismissal began last Tuesday, January 9, and will last until February 8, according to the calendar established by the company and the unions.

In this way, voluntary enrollment would be around 43% in just two weeks. Initially, in the first three days, the secondment of about 500 employees was added, a significant number, taking into account that many workers had just returned from vacation and are still evaluating the “singularities” of the ERE.

The sources consulted by Europa Press also point out that it is foreseeable that membership in the ERE will increase in the final stages of the process. The same sources have stated that they are happy with the current volume of affiliation to the exit process.

In this context, the stipulated deadlines reflect that the company’s response will take place on February 14, while departures will begin mainly on February 29, although the ERE will be open until March 31, 2025.

In the event that voluntary membership in the ERE does not cover the 3,421 planned departures, the company may undertake forced dismissals, while it has also reserved membership limits in areas of activity considered critical.

As reported by Telefónica to the National Securities Market Commission (CNMV) on January 3, the cost of this collective dismissal is estimated at around 1.3 billion euros (before taxes) and will have no impact on cash.

In this way, the average cost per worker will be around 380,000 euros, a figure lower than the exit plans undertaken by the company in recent years.

Along these lines, Telefónica estimates that the average annual savings of direct expenses will be around 285 million euros from 2025 , although 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 as early as the first quarter of 2024.

Voluntary withdrawals

On the other hand, it is worth remembering that Telefónica presented last Wednesday, January 17, a voluntary resignation plan for the group’s global units in Spain that will affect “dozens of people, always less than 100”, as union sources explained to Europa Press.

Staff who are 56 years old or older and whose seniority is at least 15 years may benefit from the voluntary departure plan. In correspondence with other plans presented, the employees who leave will have an income of 68% of the annual gross regulatory salary credited at the time of suspension.

Specifically, the global units of the Telefónica group in Spain from which around 100 employees will leave are: Telefónica, SA, Telefónica Innovación Digital España; Telefónica Global Solutions; Telefónica Electronic Purchasing; Telefónica Insurance and Reinsurance Insurance Company; Telefónica Insurance and Reinsurance Brokerage Mediation Company; Telefónica Finance; Telefónica Open Innovation; Telefónica Comprehensive Management of Buildings and Services; Telefónica Cybersecurity & Cloud Tech; Telefónica Internet of Things & Big Data Tech; Telefónica Foundation and Profuturo Foundation.

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