WORKFORCE

At the end of 2016, we had 127,323 employees throughout the Group with an average age of 39.2, of which fewer than 1% held executive positions. This represents a reduction in absolute terms of 7.7% compared to the 2015 workforce, although much of that is due to the departure of some companies which were sold throughout the year – Telefónica Billing Centre in Peru, Vocem in Venezuela, Telefe in Argentina and the assets of TGSC in Spain, Argentina and Peru. The organic variation of the workforce, without taking into account corporate movements, represented a fall of 4.9% compared to 2015, mainly due to implementation of the voluntary simplification plans, which took place chiefly in Spain and Brazil.