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Telefónica cuts Brazil jobs after merger
12 March 2012
Telefónica Brasil to sack 1,500 employees following merger with operator Vivo Participações
Telefónica’s Brazilian unit will fire 1,500 employees in the states of Rio de Janeiro and São Paulo, following its merger with local operator Vivo Participações.
Telefónica Brasil originally intended to cut more jobs but union negotiations reduced the number of job cuts and secured a benefit package for affected employees, reports Bloomberg, citing the Sindicato dos Trabalhadores em Telecomunicações no Estado de São Paulo, the São Paulo state telecommunications workers union.
Telefónica had around 19,000 staff in Brazil at the end of 2011, according to Bloomberg. GTB
Further reading from Global Telecoms Business:
Telefónica's Vivo to invest $70m in Amazon 13 Oct 2011
Telefónica Brazil to switch to Vivo brand 14 Sep 2011
Telesp and Vivo sign share swap deal 28 Mar 2011
Telefónica to invest $14.6bn in Brazil 24 Mar 2011
Vivo plans $2bn investments in 2011 25 Feb 2011