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Telefónica extends reach of layoff plan

Controversial adjustment plan entails sacking of 8,500 employees

Telefónica is due today to present a controversial labor force adjustment plan for approval by the authorities for its domestic unit Telefónica de España that entails laying off 8,500 workers, or 25 percent of the workforce, over the next five years.

The telecoms giant had earlier indicated the layoffs would affect only 20 percent of the workforce over three years.

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