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Business & Finance

Telefonica seeks to cut 5,100 jobs in Spain by 2026, union says

Published December 4, 2023 Updated December 4, 2023 05:52pm
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By Reuters
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MADRID: Telefonica told unions on Monday it sought to cut around 5,100 jobs in Spain by 2026 in an effort to reduce costs and adapt the company’s size to the current market, a UGT union spokesman said.

Spain’s largest telecom company employs about 21,000 people in its home country, while its global workforce is over 103,000.

The company based the decision on productivity, organization and technical reasons, the union spokesman said as Telefonica and the unions started negotiating the layoffs.

Barclays eyes up to 900 job cuts in Britain

Telefonica confirmed the labour “adjustment” in a statement but declined to say how many jobs it intended to axe.

JOB CUT

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