Vodafone Spain does not go through its best moments. The operator is suffering in its own flesh the rate war, in which the low cost have a dominant role. This is demonstrated by its latest results for the third quarter of its fiscal year, corresponding from October 1 to December 31, 2018. Vodafone fell 7.4% in relation to the same period of the previous year, adding revenues of almost 1,200 millions of euros.
Likewise, income from services decreased by 7.4%, compared to 7.2% in the previous quarter, reaching 1,055 million euros. It is, therefore, the worst results of all the company's subsidiaries. With regard to the number of Vodafone mobile phone contract customers in Spain, there is also bad news for the operator. These fell by 94,000 in the quarter, ending December with 11.5 million.
In turn, the fixed broadband customer portfolio as a whole fell by 6,000 in these three months, to 3.2 million. However, the fiber offered by Vodafone Spain, one of its strengths, exceeds 2.8 million customers for the first time. As of December 31, the teleco's fiber network reached more than 22 million homes, 10 of which correspond to its own network. When it comes to television there is also good news. The number of Vodafone TV Clients rose to 13,000 in the third quarter of the fiscal year, closing 2018 with 1.28 million.
To try to stabilize and compete more face to face with its main rivals and the low cost companies in the sector, Vodafone Spain has launched a tough reorganization. At the beginning of the month, it announced a new ERE that has affected some 1,200 workers, or what is the same, 25% of its workforce. According to the latest data, the operator would have offered entry conditions for the negotiation of 32 days / year with a maximum of 20 monthly payments, as well as early retirement for those over 56 years old with ten years of seniority, who would leave the company with a 80% of your fixed salary plus 50% of the variable. The layoffs would occur between March and June.
