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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

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Share Price: 69.00
Bid: 68.86
Ask: 68.88
Change: -0.34 (-0.49%)
Spread: 0.02 (0.029%)
Open: 69.34
High: 70.04
Low: 68.36
Prev. Close: 69.34
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Telefonica to trial 4-day week as Spain's telcos adjust to pandemic

Tue, 22nd Jun 2021 17:54

MADRID, June 22 (Reuters) - Telefonica will offer part of
their workforce the opportunity to participate in a four-day
week pilot programme, due to start in October and last three
months, as part of wider negotiations with unions in the
aftermath of the coronavirus pandemic.

The deal, signed with Spanish labour unions on Tuesday and
valid until end-2022, includes the three-month trial which would
let staff work four days a week on a voluntary and
role-dependent basis, in exchange for a 15% pay cut.

"We're going ahead with a flexible working model which
proved feasible during the pandemic," Emilio Gayo, president of
Telefonica Spain, said in a statement. "This agreement shows our
strong commitment to new ways of working."

Telefonica says it is the first Spanish company to
incorporate the 32-hour week into its business model.

"We still don't know how many employees will be interested
in the trial," UGT union representative Diego Gallart told
Reuters. "But a substantial portion of the workforce is keen for
remote work days to be increased and maintained long-term."

The telecoms operator will also grant employees two days of
remote working a week, which they can accumulate and use
flexibly if their supervisor agrees, and will set no limits on
where the remote work must take place from.

"We will try to increase (the number of remote working days)
if it's possible to do so without impacting the company's
operations," added Gallart. "In the past year, people have taken
to remote working - they're no longer scared of it."

Rival operators Orange and Vodafone had in
recent months reached similar agreements with labour unions to
grant staff weekly remote work days - two in Orange's case and
three in Vodafone's - with varying degrees of flexibility.
(Reporting by Clara-Laeila Laudette
Editing by Bernadette Baum)

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