O2 Ireland to shed 120 jobs in bid ‘to ensure growth’

O2 Ireland is to cut some 120 jobs from its 1,100-strong Irish workforce, following a comprehensive review of the business.

Telefónica Ireland, which operates the O2 brand, confirmed that pending the completion of staff consultation, it is seeking the voluntary redundancies after the review identified a need to reduce its cost base, inclu-ding employee numbers.

The voluntary redundancy process is open to all employees with the exception of customer care and retail staff.

The redundancy terms will be agreed as part of the employee consultation process but will be in line with previous terms given to staff — six weeks’ pay per year of service.

In addition, statutory redundancy for people with more than two years’ service will be two weeks’ pay per year of service.

The company said it had taken the decision in order to directly deal with the ongoing challenging market conditions.

In a statement, Telefónica Ireland said while it was a difficult decision to shed jobs, it would ensure future growth.

“In responding to these challenges the company is making changes to processes and operations to drive greater efficiency while maintaining the service it delivers to customers.

“By taking the actions announced today Telefónica Ireland will be in a position to sustain the most competitive offerings to customers while also continuing to invest in next generation products and services, ensuring the future growth of the company in Ireland.”

Meanwhile, Yahoo has announced it is to cut its workforce by 2,000 people or 14% globally.

The company employs approximately 200 people in Ireland, but they are likely not to know whether they are impacted by the cuts until the company makes a further announcement when it reveals its first-quarter results on Apr 17.