VMO2 (Telefónica) anuncia ajustes por 950 millones para rentabilizar el negocio

British telecommunications giant O2, in partnership with Liberty Global, has announced plans to streamline operations and reduce costs by £950 million (950 million euros) by 2029. The aim is to improve profitability and performance in a challenging market with rising competition. The transformation program will see a restructuring of the company's structure, a 6% reduction in losses by September, and a potential dividend distribution to shareholders.

VMO2, the joint venture between O2 and Liberty Global, plans to implement a simpler company structure, reduce personnel, and prioritize investments to enhance customer experience and commercial performance. They intend to stop the fibre improvement program once existing commitments are met, utilize BT's fiber-optic network, and intensify the use of AI for efficiency and customer experience.

The company has not specified the number of job cuts that may result from these cost-saving measures, but media reports suggest around 4,000 employees could be affected, approximately 25% of the workforce. VMO2 is working to reassure investors and creditors about its ability to service its debt, currently £22 billion (26.36 billion euros) net.

The stock price has been negatively impacted by investor concerns over the company's financial stability. O2's earnings decreased by 4% in the first nine months of the year, with revenue of £7.216 billion (8.645 billion euros) and losses reduced by 8% to £340 million (407 million euros). The company is also considering the dividend payment to shareholders, which it will announce after the full year's results.

Additionally, the acquisition of Netomnia, blocked by the competition regulator due to potential antitrust concerns, will be reviewed.