- Business
- Childbirth & Education
- Legal Formalities
- Motoring
- Other
- Pensions & Benefits
- Property & Accommodation
- Taxes
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Join us for Tea on the Terrace
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
- Liva & Laia : 15th November
Vodafone may slash its workforce in Spain by up to 25% as it fights an escalating price war in a shrinking market while the country goes through its worst economic crisis in decades.
The British company wrote down the value of its businesses in Spain and Italy by £5.9 billion in November. The firm said service revenue in Spain declined 11% year-on-year in the 6 months to end-Sept, due to macroeconomic weakness and high unemployment.
Vodafone did not give details of how many workers could be dismissed. It will begin negotiations with labour unions on Tuesday.
A union source said Vodafone could cut around 25% of Vodafone's 4,300-strong workforce, although the company has not given any official figures to unions.
"We managed to avoid lay-offs last year by agreeing to work suspensions and salary cuts, but now everything is pointing to them wanting to fire close to 1,000 workers," the union source said.
A price war has heated up between mobile operators in Spain in recent months, as cash-strapped customers ditch their mobile phones in record numbers and some switch to cheaper virtual operators.