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SFR, two leading unions, agree in principle on redundancy terms for 5,000 job cuts - union source

PARIS, Aug 4 (Reuters) - French telecoms group SFR agreed in principle with its two leading unions on redundancy terms for its plan to cut 5,000 jobs, a union source told Reuters on Thursday.

SFR will offer a redundancy package averaging 2.5 months of salary per year of service, the union source said. CFDT and UNSA, which represent more than half of SFR’s staff, are ready to sign the agreement later on Thursday, the source said.

The headcount reduction represents a third of SFR’s current total staff in France of 15,000.

Under the terms of the agreement, SFR will cut 1,000 jobs as soon as 2016 and 4,000 more from mid-2017, the union source said.

An SFR spokesman declined to comment.

Reporting by Mathieu Rosemain; Editing by Maya Nikolaeva

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