Telefónica reopens incentivized dismissals for employees under 55 years of age | Companies

The BOE published yesterday the extension agreement of the II Collective Agreement of Telefónica de España, Móviles, y Soluciones (CEV). The agreement includes the voluntary individual suspension of the employment relationship (PSI) program for those born in 1967 or before, together with an incentivized leave plan for those under 55 years of age.

The operator and the unions agreed that they may request, throughout the term of the agreement, until the end of 2023, the incentivized dismissal of all those workers, who have a minimum seniority in the company of five years and less than 55 years of age, who are not eligible for the rest of the PSI programs.

The teleco may deny the request if the employee is doing work of a strategic nature for the business. Within the conditions, he will pay an economic compensation equivalent to 45 days of salary per year of service, with a maximum of three and a half annuities.

The payment of the total compensation may be made in three equal fractions; the first one, at the time of leaving the company.

In relation to the incompatibilities, the agreement specifies that the worker who avails himself of this leave will undertake not to carry out any type of activity during the time provided for in article 21 of the Workers’ Statute, either for own or third-party, which involves competition with those carried out by the companies of the Telefónica Group, that is, those companies dedicated to the provision of telecommunications services, as defined in the General Telecommunications Law and development provisions.

The payment of the second fraction, which will be made once a year has elapsed since the discharge and the third, which will be after two years, will be conditional on the employee’s compliance with the non-compete commitment, leaving the company, in the event of Non-compliance by the worker, released from making the payments included in this section that may be pending.

This type of plan was already included by Telefónica in previous agreements. Company sources point out that the number of employees who take advantage of these plans is usually very low.

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