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Telefónica will close on Thursday the deadline to sign up for the ERE

The period opened on January 9 and as of the 30th, the last date with figures provided by the company on the volume of memberships, 2,118 employees had registered, 62% of the total.

Specifically, 825 professionals from Telefónica de España, 244 from Telefónica Móviles and 49 from Telefónica Soluciones had signed up.

If the number of adhesions does not reach the expected 3,421 dismissals , the company, in accordance with what was agreed with the union representation, may resort to forced dismissals . In addition, Telefónica has reserved adhesion limits in critical areas or additional separations in departments with greater functional surplus for business reasons.

Workers’ Commissions have assured that in some addresses meetings are being held “in which workers are pressured to ‘voluntarily’ adhere to the collective dismissal , indicating that otherwise they will be forced out.”

The company denies such coercion to Servimedia. They assure that the same round of information meetings is being held as in other exit plans in which the details of the ERE are explained to those affected.

According to the schedule of the file agreed between management and unions, the company will respond to the requests on February 14 and departures will mostly occur on February 29 , although the ERE will be open until March 31, 2025.

Workers from the related companies Telefónica de España, Móviles y Soluciones who turn 56 years of age or older during 2024 and who have been working for more than 15 years can sign up for this ERE.

Those born in 1968 will receive 68% of the regulatory salary until age 63 and 38% until age 65.

Workers born in 1967, 1966, 1965 or 1964 will leave with 62% of the regulatory salary until age 63 and 34% until age 65, and the voluntary bonus will be increased to 10,000 euros for this section.

People born in 1963 or earlier will receive 52% of the regulatory salary until age 63 and 34% until age 65, with the same voluntary bonus, which workers who leave as forced dismissal would not obtain.

In the chapter on complements , the ERE includes reversibility of income (in the event of death, the legal heirs will receive the pending income), payment of the employee’s social security discount during unemployment, and group insurance up to age 63 (and up to 65 years for survival).

Telefónica has informed the CNMV that this ERE will cost it approximately 1,300 million euros , which will not have an impact on cash.

In parallel with this employment regulation file, Telefónica has launched an individual suspension plan (PSI) for workers in its Global Units in Spain.

This plan affects a number of employees that is not expected to exceed one hundred. Employees who are 56 years old or older and whose seniority is at least 15 years may sign up, with similar working conditions similar to other incentive leave plans.

In this case, the assignment must be made before February 10 and the effective date of the suspension of the contract will generally also occur on February 29, coinciding with the bulk of the ERE marches.

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