(Telecompaper) Telefonica has reached a collective bargaining agreement with the major trades unions UGT and CCOO affecting its entire 21,000-strong Spanish workforce. In a statement, the operator confirmed that the deal encompassing all three of its units in Spain Telefonica de Espana, Telefonica Moviles and Telefonica Soluciones will run from 2019 to until 31 December 2021, extendable for another year, and envisages an annual salary increase of 1.5 percent. Up to 4,500 workers are expected to apply for the voluntary retirement plan, according to union sources cited by business daily Expansion.