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Vodafone plans to lay off up to 1,300 employees in Spain
telecoms giant Vodafone announced Tuesday plans to lay off up to 1,300 of its 6,100 employees in Spain , the group said in a statement.
"Vodafone Spain and Ono Vodafone have informed the representatives of the workers to open two separate procedures for collective redundancies that affect up to 1,300 employees, "the company said.
To justify the measure, Vodafone was based mainly in the fall in revenues and EBITDA, as well as significant investments "in new generation networks" .
Vodafone ended in July 2014 purchase of Spanish cable operator Ono The main fiber optic network in Spain, for 7,200 million euros.
After a partnership with Orange to invest 1,000 million euros in the deployment of fiber optics in Spain to tool around 6 million homes until 2017, Vodafone tries positioned as one of the main players in the rebuilding of the cable sector in Europe.
Vodafone Spain in April reported a turnover of 4,100 million euros for the 2013-2014 fiscal year (April-March). Revenues from services amounted to 3,800 million, down 13.4% on the previous year.
According to Vodafone, "employment adjustment is necessary to size the new company as properly and to compete successfully in a very challenging environment "
. Source: AFP
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