04. RESPONSIBLE MANAGEMENT OF HUMAN RESOURCES ANNUAL REPORT 2011 We would never reach our business objectives without the efforts and dedication of our professionals who together make up a diverse and multidisciplinary team who share common goals. Working at PRISA means joining a team of professionals in an environment that favors innovation, creativity and teamwork. Through integrated and effective management of people, we foster both the personal and professional development of our employees. Our Human Resources policy is a reflection of our conviction that our human capital is our best tool to meet our commitments to society. We believe that: There is only one way to inform, educate and understand people and that is through people. There is only one way to be world leaders in communication, and that is by developing leaders among our team members. There is only one way to be responsible in society, and that is by having independent and socially committed professionals. Given the geographic diversification and our multidisciplinary business nature, PRISA has created a Global Transformation Plan that encompasses all initiatives aimed at improving the Group’s efficiency and productivity in order to meet the challenges of the current economic climate. Thanks to this program, adapting to the new labor situation has been gradual, and we have not had to resort to major layoffs. Dialogue with workers and other social actors involved in this process has been fundamental. To increase the competitiveness of the Group, the HR management model will undergo a complete overhaul. A new global services center will be established that will unify all policies, methodologies and tools in order to facilitate the work of labor management across all PRISA companies. This reform, based on technology and communication, will be accompanied by profound internal changes that will provide new job and training opportunities for all employees. The chief goal of each of our companies is to be the best possible employer and to contribute to the responsible management of their teams in the markets where we have operations. We are therefore committed to strict compliance with the laws of each country and to providing the market with a structure that will encourage stable employment and professional development. The current economic crisis particularly affects the media and advertising industries, obliging the Human Resources Department to combine cost containment with workforce adjustments. These processes are carried out with the utmost sensitivity and transparency, involving the consensus of all stakeholders. 61