Telefonica to Cut 6,000 Jobs This Year, According to Expansion

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Oct 06 2025

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Source: Reuters

Layoff Plans: Telefonica plans to lay off at least 6,000 employees, potentially rising to 7,000, as part of a redundancy plan before the end of the year, primarily affecting its Spanish business and subsidiaries.
Company Response: A spokesperson for Telefonica stated that there are currently no plans for a redundancy program, despite reports indicating that unions will be informed of potential layoffs after the presentation of a new strategic plan on November 4.
Previous Redundancy Context: The upcoming redundancy plan is expected to resemble a previous one from 2024, which was largely voluntary for employees aged 55 and over.
Affected Units: The majority of layoffs are anticipated to impact Telefonica Moviles and Telefonica Soluciones, with some potential effects on the corporate center, which had previously been exempt from such plans.

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.