Telefonica looks to shed over-50s in new redundancy plan

Telefonica is reportedly looking to lose around 3,000 staff from its payroll in Spain by offering a new redundancy plan to employees of a certain age and career longevity.
The Unión General de Trabajadores (UGT), or General Workers Union, told Reuters the Spanish operator plans to offer a voluntary redundancy package to staff born before 1967 and with at least 15 years of employment at the firm. The deal could cover as many as 3,261 members of staff, but Telefonica will limit uptake to 60