Vodafone to Cut Wages in Spain by Around 4%, Expansion Says

Vodafone Group Plc (VOD)’s Spanish unit has reached an agreement with unions to cut wages by reducing working hours by ten days a year starting in April, Expansion reported, citing the CCOO and UGT unions.

The measure represents an average reduction of about 4 percent, the newspaper said.

The company also reduced the variable portion of wages and is encouraging employees to work part-time, Expansion said.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net