Telefonica job cuts widen

Telefonica and unions want to extend a job reduction plan by two years, sources said yesterday, in a move that could lead to redundancies rising by an additional 2,500. Telefonica proposes extending the cuts over five years but lifting the number of redundancies in Spain to up to 8,500 staff. Unions have agreed to the extended timeframe, but not to the increased redundancies. Unions had rejected Telefonica’s initial plan to cut its Spanish staff by 20 per cent, or 6,000 employees, in the next three years.