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Teléfonica agrees trade unions deal to cut fewer jobs

January 3, 2024

From David Del Valle in Madrid

Spanish telco Telefónica has reached an agreement with trade unions over a redundancy plan that will affect 3,411 workers. This is a 33 per cent lower than the initial plan of 5,124 dismissals from its total workforce of 16,000. The redundancy plan will commence on January 9th with most of the exits taking place on February 29th. Telefónica España will cut 2,958 workers, a further 397 will be axed in the mobile division, and 57 in Telefónica Soluciones. Once the cuts have been made, Telefónica will still remain the telco with the largest number of employees in the country. In comparison, Orange has 5,240 workers, Vodafone Spain 4,024, and MásMóvil 1,800.

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