Telefonica Czech Unit mulls up to 500 job cuts report.

By bne IntelliNews November 5, 2012
Telefonica Czech Republic, the country's biggest telecommunications company, plans to cut up to 500 job cuts, CTK newswire reported citing Euro weekly that quoted several independent sources. Most of the redundancies will affect marketing and managerial staff. Telefonica's spokesman Hany Farghali, however, told the weekly that the company does not plan to lay off more people this year after it cut 300 jobs in the spring. On the opposite, Telefonica is hiring new people for its its two largest client support centres in Ostrava and Usti nad Labem. Telefonica CR reported a 9.9% annual decline in first-half net profit to CZK 3.25bn due to lower revenue in the fixed-line and mobile businesses. The company is 69% owned by Spain's Telefonica SA, Europe's second-largest phone company.

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