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  5. Redundancy Plan Agreement

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Redundancy Plan Agreement

8 Jul 2011 08:11

RNS Number : 0352K
Telefonica SA
08 July 2011
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In accordance with the provisions of article 82 of the Spanish Securities Market Act, TELEFƓNICA, S.A. ("TELEFƓNICA") hereby discloses the following

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SIGNIFICANT EVENT

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Yesterday, TelefĆ³nica de EspaƱa, S.A.U., a TelefĆ³nica Group subsidiary, agreed a package with the unions which includes, among others, the implementation of a Redundancy Plan affecting up to 6,500 jobs. The Redundancy Plan will be presented to the employment authorities for approval.

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TelefĆ³nica will meet all the costs relating to the aforementioned Redundancy Plan.

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Madrid, 8 July 2011.

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This information is provided by RNS
The company news service from the London Stock Exchange
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END
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