Telefónica, the Spanish telecommunications company, is paying workers over the age of 53 68% of their salary to stay at home, The Guardian reports.
The deal came to be via negotiations with trade unions. Employees have to be at the organisation for over 15 years to qualify. They must remain under contract at the company, who will carry on paying social security and private health contributions until they reach 65; this will ease the state’s output on unemployment benefits.
Upgrade to access
This content is only available to members of myGrapevine+.
myGrapevine+ is the latest way we are supporting a growing community of forward-thinking business leaders. Members can access a host of specially developed content and tools that aren't available anywhere else, helping you set new standards in business and people leadership every day.
- Access to exclusive member-only content including:
- The 'Leaders Series', a set of video interviews with leading business and HR voices
- Strategic deep dives and expert tips for professional development and innovative practise
- Access to the entire archive of news, features and insights from HR Grapevine and our other sites.
- Unlimited access to the full back catalogue of our award-winning Magazine and other publications.