Overview
- Telefónica has tabled an initial plan for up to 6,088 departures across seven Spanish subsidiaries, equal to about 35.3% of staff in those units.
- UGT, CCOO and Sumados-Fetico demand voluntary, non-discriminatory exits based on early retirement terms and condition any pact on richer pay rises through 2030 and stronger anti-inflation safeguards.
- The company and unions have set a dense schedule of parallel meetings on the seven EREs and three collective agreements, with Telefónica aiming to close a deal before year-end to book the cost this fiscal year.
- Local union estimates point to concentrated impacts, including 42% of staff in Toledo and 52% in Córdoba potentially eligible, and CCOO is pushing to scrap any forced-exit clause used when volunteers fall short.
- The restructuring under Marc Murtra’s Transform & Grow plan targets €2.3 billion in savings by 2028 and €3.0 billion by 2030, following a 2024 ERE that cut 3,420 jobs at a cost of about €1.3 billion.