NEWBURY (Alliance News) - Vodafone Group PLC said Thursday it plans to cut up to 1,200 jobs in Spain.
The telecommunications company, which employs 5,100 people in Spain, said it will begin a month-long consultation with employees in January.
Vodafone said the job cuts follow a decline in revenue and earnings from its Spanish operations in the six months to the end of September.
Demand for telecommunication services is increasing in Spain, although it is weighted toward low-and-medium cost offerings, Vodafone said.
The FTSE 100 constituent said the job cuts are aimed at protecting investment capacity and will make it a more competitive organization better adapted to customers' needs.
Vodafone shares were trading 1.2% higher on Thursday afternoon at 154.58 pence each.