Vodafone Spain to cut up to 1,300 jobs following Ono purchase
MADRID (Reuters) - The Spanish business of London-listed telecoms group Vodafone said on Tuesday it will cut up to 1,300 jobs as it trims its workforce following last year's acquisition of the county's largest cable operator Ono.
Negotiations with employee representatives over the cuts will start on September 1, it said in a statement.
Vodafone agreed to buy Ono [ONOCA.UL] for 7.2 billion euros (5.10 billion pounds) in March 2014, one of a number of recent takeover deals in Spain's telecom sector.
The merged company has a workforce of around 6,000.
The job reductions also reflected "the drop in sales and EBITDA (core earnings) of both companies in recent years, together with large investments in next-generation networks," Vodafone Espana said.
(Reporting by Andres Gonzalez, writing by John Stonestreet, editing by Louise Heavens)
