Overview
- Management formally notified UGT, CCOO and Sumados-Fetico that it will launch collective layoffs across seven group units in Spain for objective causes.
- The process covers Telefónica España, Telefónica Móviles, Telefónica Soluciones, Movistar+, the corporate arm of Telefónica S.A., Telefónica Global Solutions and Telefónica Innovación Digital.
- The company has not provided figures on affected staff, and press estimates of about 6,000 potential exits remain unconfirmed and subject to negotiation.
- Negotiating committees are set to be constituted within a week, with meetings on November 24–25 and a target of reaching an agreement by year-end.
- Telefónica’s plan targets €2.3 billion in savings by 2028 and €3.0 billion by 2030, with nearly three quarters tied to opex, and the company says departures will prioritize voluntariness.