Deals
Telefonica to Cut 18% of German Jobs After E-Plus Deal
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Telefonica SA plans to eliminate 18 percent of its workforce in Germany following the completion of its $11 billion takeover of wireless carrier E-Plus this month.
A total of 1,600 out of 9,100 full-time positions will be cut by 2018, Munich-based Telefonica Deutschland Holding AG said in a statement today. The company will continue negotiations with the works councils.