\tTelefonica announced plans to raise funds from its tower assets and confirmed measures [1] to transform the make-up of its Spanish workforce, as it continues efforts to improve its financial position.<\/p>\n
In separate statements, the operator group unveiled strategies to increase usage of physical infrastructure assets and offer early retirement to staff over 53 in Spain. It will also embark on a sweeping retraining programme for 6,000 other workers in its home market.<\/p>\n
Detailing the infrastructure plan, Telefonica said its 50,000 towers outside of those operated by subsidiary Telxius had the potential to generate \u20ac830 million in revenue, depending on lease agreements signed.<\/p>\n
The operator expects to begin cashing-in on the towers within 12 months, though it is still assessing the best approach, including whether to bundle the towers into Telxius.<\/p>\n
It separately intends to investigate infrastructure sharing agreements similar to those already struck [2] in some of its major markets.<\/p>\n
Telefonica said the new strategy was designed to maximise shareholder value, improve its return on investment and make more efficient use of infrastructure.<\/p>\n
Staff changes
\nAs rumoured in the Spanish press, Telefonica is set to meet with trade union representatives to discuss measures to transform its workforce, a plan it described as being designed to \u201cadapt it to the challenges of the coming years\u201d.<\/p>\n
The strategy involves offering early retirement to those aged over 53 years. The offer will be voluntary and will be on the table for a year. The company did not provide figures on how many employees could be impacted.<\/p>\n
Telefonica said the intended changes in the profile of its workforce was due to anticipated increases in digital sales and continued modernisation of its infrastructure. A retraining programme will be offered to more than 6,000 employees and includes options covering security; automation and robotics; analytics; web development; business consulting; and IT.<\/p>\n
It expects to spend \u20ac1.6 billion before tax on its workforce plan and anticipates cutting costs by \u20ac220 million from 2021.<\/p>\n
The announcements came as the company continues to cut its debt pile by selling-off assets [3] and reducing operating expenses.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/telefonica-mulls-further-staff-cuts\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/vodafone-o2-finalise-uk-5g-network-sharing-pact\/
\n[3] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/millicom-finalises-movistar-panama-deal\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Telefonica announced plans to raise funds from its tower assets and confirmed measures to transform …<\/p>\n
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