Mobile operator Telefónica Ireland which operates the O2 brand, has confirmed it is seeking 120 voluntary redundancies from its 1,100-strong Irish workforce.
The decision follows a review of the business which identified the need to cut its headcount.
The company said it will now engage in consultation with its workers.
“Telefónica Ireland has taken this difficult decision in order to directly deal with the ongoing challenging market conditions, including a fiercely competitive telecoms sector,” the company said in a statement.
“In responding to these challenges, the company is making changes to processes and operations to drive greater efficiency while maintaining the service it delivers to customers.
“By taking the actions announced today, Telefónica Ireland will be in a position to sustain the most competitive offerings to customers while also continuing to invest in next-generation products and services, ensuring the future growth of the company in Ireland,” it stated.
O2 reported in February that service revenues in Q4 were €157m, down from €168m in Q3. ARPU for Q4 was €31.33, down from €32.46 in Q3.
Its total customer base – mobile and fixed – was 1.64m at the end of December, down from 1.68m in Q3.