TELECOMS COMPANY TELEFÓNICA which operates as O2 in Ireland has confirmed it is to cut 120 jobs from its Irish workforce of 1,100.
The company said it is looking for 120 voluntary redundancies following a review of the business which identified a need to reduce its cost base.
Telefónica said it had taken the “difficult decision” to deal with ongoing challenging market conditions, including a fiercely competitive telecoms sector.
“In responding to these challenges the company is making changes to processes and operations to drive greater efficiency while maintaining the serve it delivers to customers,” Telefónica said.
The telecoms company is still profitable in Ireland but has faced increased competition in recent years with an increase in the number of mobile phone companies operating in Ireland.