Telefonica Engages Unions in Discussions Prior to Anticipated Job Reductions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2025
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Source: Reuters
Union Meeting Scheduled: Telefonica will meet with union leaders on November 17 to discuss a new strategy that may include voluntary redundancies to achieve cost savings.
Job Cuts Expected: Reports suggest that the company may cut between 5,000 and 7,000 jobs as part of a five-year plan aimed at reducing costs by approximately 3 billion euros by 2030.
Employee Impact: Telefonica employs around 25,000 people in Spain, which represents about a quarter of its global workforce.
Previous Redundancy Plan: The last redundancy plan led to the voluntary departure of 3,420 employees, finalized in January 2024, with any future plans to be agreed upon with union representatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
