Mobile phone operator Vodafone (VOD.L) said it had reached agreement with labor unions to lay off 620 workers at its recession-hit Spanish unit, adding to a list of job cuts in Spain’s hard-hit economy.
Many companies in Spain, where the unemployment rate already stands at 26 percent, are laying off staff to cut costs. The ruling centre-right government, in the midst an austerity drive to slash its deficit, has introduced measures to make hiring and firing easier.
Vodafone’s job cuts are less than the maximum of 1,000 jobs initially expected, but is in line with the reduced figure of 650 which unions said last month the company was seeking.
Chosen excerpts by Job Market Monitor from
via Vodafone adds to Spain corporate job cull with 620 dismissals | Reuters.
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