Telefónica Deutschland To Cut 1,600 Full-time Positions By 2018 - Quick Facts

(RTTNews) - Telefónica Deutschland (TDE.L, TEF) announced its plan to reduce 1,600 full-time positions by 2018. The company said the job reductions will not differentiate between the old Telefónica Deutschland and the former E-Plus Group, and is mainly to abolish duplicate functions.

Following the completion of the take-over of the E-Plus Group, the Management Board of Telefónica Deutschland aims to use the merger as a springboard for the digital transformation of the business model. The planned measures shall contribute to achieving the announced synergies of more than five billion euros, the company said.

Telefónica Deutschland intends to implement a severance pay scheme for employees leaving the company.