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Featured María Jesús Montero IBEX 35 Feijóo Parlamento Europeo Reino Unido

The ERE in Telefónica will close with 3,420 departures, 106% affiliation and without forced dismissals

The average cost per worker is around 380,000 euros and the sick leave will begin on February 29.

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The ERE in Telefónica will close with 3,420 departures, 106% affiliation and without forced dismissals

The average cost per worker is around 380,000 euros and the sick leave will begin on February 29

A total of 3,640 workers have voluntarily signed up for the employment regulation files (ERE) that the company will apply in its three main subsidiaries in Spain (Telefónica de España, Móviles and Soluciones) and so far 3,393 applications have been accepted , although the final number of departures will be 3,420 (instead of the agreed 3,421), according to sources consulted by Europa Press.

Although the requests admitted so far amount to 3,393, the agreement reached between unions and the company had established that of the total of 3,421 departures initially agreed upon, only a maximum of 35% could correspond to critical areas of each of the affected subsidiaries. .

Within that quota reserved for critical areas, it turns out that there have finally been 247 more requests, so the company and the unions will refine which of these excess requests over the established 35% will be accepted with the objective of finally reaching 3,420 departures (instead of the agreed 3,421). In this way, there will be no forced dismissal.

In that sense, of the 3,393 applications accepted so far, 2,946 correspond to Telefónica de España, 391 to Móviles and 56 to Soluciones, UGT explained in a statement.

ERE CONDITIONS

The 3,640 voluntary requests to be part of this ERE represent an adhesion of 106.4% (of the 3,421 agreed exits), a circumstance that UGT considers demonstrates that the exit conditions achieved during the negotiation have been "the most beneficial to date." date".

For its part, the Sumados-Fetico union has also celebrated the volume of adhesion to the ERE and has stressed that "thanks to the negotiation" it has been achieved that there are no forced dismissals, something that CCOO has also emphasized.

In the initial agreement established between Telefónica and the unions, 2,958 departures were set for Telefónica de España, almost 28% less than the 4,085 that were proposed at the beginning of the negotiations; 397 in Telefónica Móviles, almost 59% less than the initial 958, and 66 in Telefónica Soluciones, almost 19% less than the initial 81. A total of 3,421 departures, although in the end there will be 3,420.

Regarding the conditions, Telefónica will give employees born in 1968 who leave the ERE an income of 68% of the regulatory salary until age 63 and 38% until age 65, while for those from 1967, 1966, 1965 or 1964, 62% of the regulatory salary until age 63 and 34% until age 65, to which is added a voluntary bonus of 10,000 euros.

Meanwhile, for workers born in 1963 or previous years, it offers an income of 52% of the regulatory salary until age 63 and 34% until age 65, to which it has also added a voluntary bonus of 10,000 euros.

Likewise, the conditions of the ERE include the reversibility of income, which implies that in the event of death the legal heirs will receive the pending compensation.

Also included is the payment of the employee's Social Security discount during unemployment, group insurance up to age 63, and 100% basic health policy up to age 63 (or as long as the Special Social Security Agreement is paid).

DEADLINES

The period of affiliation to the collective dismissal began on January 9 and closed this Thursday, February 8, according to the calendar established by the company and the unions.

Meanwhile, departures will begin mainly on February 29, although the ERE will be open until March 31, 2025.

Regarding the evolution of the affiliation to the ERE, in the first three days of the process some 500 employees signed up (around 15%), in the second week the figure rose to 1,478 (around 43%). , in the third it increased to 2,118 (almost 62%) and on Tuesday of this week it was already around 82% (with about 2,800 employees).

COST OF 1,300 MILLION

As reported by Telefónica to the National Securities Market Commission (CNMV) on January 3, the cost of this collective dismissal is estimated at around 1.3 billion euros (before taxes) and will have no impact on cash.

In this way, the average cost per worker will be around 380,000 euros, a figure lower than the exit plans undertaken by the company in recent years.

Along these lines, Telefónica estimates that the average annual savings of direct expenses will be around 285 million euros from 2025, although the impact on cash generation will be positive from 2024, "as will the capture of savings." , since the departure of employees is estimated to take place as early as the first quarter of 2024.