# Just what IS it with Telefónica????



## Pesky Wesky (May 10, 2009)

I heard something about this a couple of days ago on the radio, and have just found an article about it in English
Bad news from Telefónica
They want to cut their workforce in Spain by 20%. Being one of the country's biggest employers that's a lot of people.
Telefónica propone bonus millonarios para sus directivos tras anunciar el recorte de plantilla · ELPAÍS.com
But...
Rubalcaba has said that the government doesn't agree with this action
And...
In the meantime Telefónica has announced that it wants to pay its directors bonuses of a million euros!!!

Can somebody come up with a reasonable explanation for this? :confused2:


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## xabiaxica (Jun 23, 2009)

Pesky Wesky said:


> I heard something about this a couple of days ago on the radio, and have just found an article about it in English
> Bad news from Telefónica
> They want to cut their workforce in Spain by 20%. Being one of the country's biggest employers that's a lot of people.
> Telefónica propone bonus millonarios para sus directivos tras anunciar el recorte de plantilla · ELPAÍS.com
> ...



errrmmm



no


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## nigele2 (Dec 25, 2009)

Pesky Wesky said:


> Can somebody come up with a reasonable explanation for this? :confused2:


Vicious ingrained selfish greed - simples

And not only Telefonica but Santander and Aena are positioning themselves outside spain. The going gets tough so the rich p**s off and leave the poor to starve. 

All makes Franco seem a nice guy in comparison - at least the self opinionated fascist killer was pro Spain


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## Alcalaina (Aug 6, 2010)

Pesky Wesky said:


> I heard something about this a couple of days ago on the radio, and have just found an article about it in English
> Bad news from Telefónica
> They want to cut their workforce in Spain by 20%. Being one of the country's biggest employers that's a lot of people.
> Telefónica propone bonus millonarios para sus directivos tras anunciar el recorte de plantilla · ELPAÍS.com
> ...


I read last month that they've opened an office in Ireland (!) so they can avoid paying taxes in Spain.

Isn't it a shame that Aznar sold it off. All those profits could be coming into the Spanish economy now if it hadn't been privatised ...


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## 90199 (Mar 21, 2010)

Telefonica are fine fellows, they keep reducing our bills


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## djfwells (Sep 28, 2009)

On the opposite side of the coin I read the other week that Exxon employ a 'Director' in Spain, which means that by means of some total-knobhead tax loophole, they save billions of dollars every year.
The total number of staff that Exxon directly employ in Spain is just this one 'Director' who earns 42'000 Euros for his role. 
I suppose for every Spanish company that positions itself out of Spain for tax purposes, there will be one from another country that will be looking to move here. I don't know if Goldman Sachs are going to go through with their threat to move staff to Spain or not.

On reflection, my 'Exxon' point is probably a crap example, but interesting nonetheless (or so I would hope)


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## nigele2 (Dec 25, 2009)

djfwells said:


> I suppose for every Spanish company that positions itself out of Spain for tax purposes, there will be one from another country that will be looking to move here.


Spain +42,000 Es
Spain -75,000,000 Es 

No one in their right mind would bring any sizable business to Spain at the moment unless they were paid to do so.

But it is interesting that Spain can facilitate Exxon. I guess the guy will at least buy lunch even though that will be tax deductible


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## djfwells (Sep 28, 2009)

nigele2 said:


> Spain +42,000 Es
> Spain -75,000,000 Es
> 
> No one in their right mind would bring any sizable business to Spain at the moment unless they were paid to do so.
> ...


Agreed. 
But from what I recall it wasn't Spain specifically, but rather 'the EU'. Spain just happened to be the place that Exxon chose to site their solitary representative in Europe.

Spain still gets the sh1tty end of the stick, I agree.


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## nigele2 (Dec 25, 2009)

djfwells said:


> Agreed.
> But from what I recall it wasn't Spain specifically, but rather 'the EU'. Spain just happened to be the place that Exxon chose to site their solitary representative in Europe.
> 
> Spain still gets the sh1tty end of the stick, I agree.


djfwells it is a fairly small salary but I bet it is one hell of a job. I guess you wine, dine and bribe potential clients everyday and occasionally get an expenses trip back to HQ to report on the price of fish. Can I apply? 

ps. I like your IT way to get round the smut blocker


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## djfwells (Sep 28, 2009)

nigele2 said:


> djfwells it is a fairly small salary but I bet it is one hell of a job. I guess you wine, dine and bribe potential clients everyday and occasionally get an expenses trip back to HQ to report on the price of fish. Can I apply?
> 
> ps. I like your IT way to get round the smut blocker


ANY salary would get my attention at this moment in time. Believe me.
- My point was that Exxon were making Billions by means of paying peanuts for the very fact of having ONE guy based in Europe. 42 k - a good salary I'd agree. I was just thinking that maybe Exxon would have the good grace to at least pretened that this one said employee was doing a job of such magnitude that it warranted a higher salary - at least in line with what his position was saving them in unpaid taxes every year.

..We digress from the point of the fact that Telefonica are such 5h1t5...


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## mrypg9 (Apr 26, 2008)

Pesky Wesky said:


> I heard something about this a couple of days ago on the radio, and have just found an article about it in English
> Bad news from Telefónica
> They want to cut their workforce in Spain by 20%. Being one of the country's biggest employers that's a lot of people.
> Telefónica propone bonus millonarios para sus directivos tras anunciar el recorte de plantilla · ELPAÍS.com
> ...


They've caught the British disease.
RBS, 80% of which is owned by the taxpayer, paid out £ millions in bonuses. They have made thousands of staff redundant and have outsourced work to sub-contractors in India.
My dil has a senior position at RBS and has been told to make 900 redundancies in the areas she controls. It has sickened her. 
My son works via his company on a contract with Lloyds/HBOS, also partly owned by thec taxpayer. Huge bonuses paid there too. They also subcontract work to the Indian subcontinent where they can get away with paying highly-qualified IT support staff £100 a day or less, much less than they would pay to an equivalent UK worker.
I cannot for the life of me understand why the working people of Spain and the UK aren't on the streets in their millions.


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## nigele2 (Dec 25, 2009)

mrypg9 said:


> They've caught the British disease.
> RBS, 80% of which is owned by the taxpayer, paid out £ millions in bonuses. They have made thousands of staff redundant and have outsourced work to sub-contractors in India.
> My dil has a senior position at RBS and has been told to make 900 redundancies in the areas she controls. It has sickened her.
> My son works via his company on a contract with Lloyds/HBOS, also partly owned by thec taxpayer. Huge bonuses paid there too. They also subcontract work to the Indian subcontinent where they can get away with paying highly-qualified IT support staff £100 a day or less, much less than they would pay to an equivalent UK worker.
> I cannot for the life of me understand why the working people of Spain and the UK aren't on the streets in their millions.


Mary be serious. You cannot compare the UK and Spain. In the last year we have been in contact with three new UK banks - totally new to the banking world but backed by successful corporate names. They have created between them thousands of UK jobs. And companies like an IT consultancy we know who used to work with RBS now have contracts instead with two of the three new banks. How many people do you want working in the banking sector? 

I believe you said yourself that the UK should get back to manufacturing and have a better balance. That is exactly what it is doing and it is also moving its attention very successfully away from the Euro zone (see recent trade figures and the drop in the trade gap, increased exports outside the Euro zone, but still increased exports within it, decreased unemployment).

It is unfortunate that Fred the shred should screw up in Edinburgh where RBS had a disproportionate percentage of the local jobs but UK wide not of great relevance. And now both Lloyds and RBS have nearly recovered in share value the investment made in them we are even going to get our money back.

Of course it is sad that there need to be enforced redundancies but the labour market of today has to be adaptive and fast moving; it is the way of the world. 

Further in London about a quarter of a million marched against the cuts. Democracy in action. The reason there are not millions marching in the UK is because 92% of the workforce have a day job. And of the other 8% they have support and hope. Yes there are cases of injustice and bad luck but there are also people listening.

It's not perfect but it sure ain't broken beyond repair and it for sure is not bankrupt. 

You know the situation in Spain all too well. The Euro and interest rates controlled by Germany, the unemployment, the corruption, the lack of social services and the bureaucracy.

And compare the protests in London with those in Spain where 20%+ of the working population have nothing to do 

If Spain could catch the British decease I assure you many Spaniards would be very happy


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## nigele2 (Dec 25, 2009)

British decease - bl00dy spell checkers 

I think I meant British disease


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