Zegona, the cost-cutting plan of the British fund it recently acquired Vodafone Spain for 5 billion euros, confirmed layoffs will be carried out in Spain and the closure of stores with “poor performance” to Personnel costs fall from 7.1% of business revenues Vodafone in Spain, which they currently represent.

As the investment firm confirmed in a document sent to the London Stock Exchange, regarding possible redundancies, the company raised the possibility of applying a “specific program” reduction.

Towards store closuresZegona noted that Vodafone’s customer acquisition cost in the previous financial year was around €339, so it believes there are various alternatives to reduce this figure, including closing physical outlets with “low performance”. and promoting digital channels for user relationships.

Another measure included in the Zegona plan is renegotiation of fixed-line wholesale contracts with Telefónica, Orange and MásMóvil.

The fund’s strategy, led by Eamonn O’Hare, also addresses “bad debt”, for which it is looking at outsourcing to an agency that specializes in it and “implementing stricter controls” to reduce the proportion of this type of debt to 0.89% of turnover.

Another element of the cost reduction roadmap is renegotiation of television content agreements and use the Lowi brand to expand its subscriber base and reduce the cost of television content from €9.6 per customer.

Except, proposes to reduce annual technology costs information, which currently amounts to 102 million euros annually, the document adds.

Other elements that the British Foundation has identified for rationalize costs at Vodafone Spain They involve canceling “unproductive technology projects” and replacing some of the “high-cost services” the company receives.