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Telefonica's Czech Unit to Cut 10% of Workforce This Year

Telefonica Czech Republic AS (SPTT), the country’s largest phone company, plans to reduce its workforce 10 percent this year to lower costs.

The details of the plan are still being worked out, the Prague-based unit of Spain’s Telefonica SA (TEF) said in an e-mailed statement today.

Telefonica cut its workforce 7.5% last year to 5,862 at the end of December.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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