Telefonica Reportedly Plans to Cut Up to 7,000 Jobs

Telefonica Reportedly Plans to Cut Up to 7,000 Jobs
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Spanish telecoms giant Telefonica plans to lay off at least 6,000 employees across several divisions before the end of the year, Reuters reported, citing a newspaper Expansion article. The total number could reach 7,000 out of the company’s 100,000 global staff, though union talks may reduce that figure.

Telefonica, which will unveil a new strategic plan led by Executive Chair Marc Murtra on November 4, may formally notify unions of the layoffs afterward to finalize an agreement before December 31. The move would allow related costs to be recorded in the 2025 financial year.

The plan reportedly mirrors last year’s “voluntary” programme for workers aged 55 and above, with most cuts expected in Spain’s Telefonica Moviles and Telefonica Soluciones units, and possibly at the corporate centre.