Spain’s heavily indebted telecoms heavyweight Telefónica is preparing to shed up to 5,040 positions across three of its subsidiaries as part of a sweeping overhaul, according to the UGT union on Monday.
The union said in a statement that the breakdown includes 3,649 roles at Telefónica España, 1,124 at Telefónica Móviles and another 267 at Telefónica Soluciones.
A UGT official also noted that the company is expected to confirm an additional 279 redundancies on Tuesday within its Movistar Plus+ unit.
‘UGT has demanded that any measure adopted be structured as a strictly voluntary process based on early retirements,’ the statement said.
Telefónica, which has a global workforce of around 100,000, is tightening and refocusing its operations on its main markets — Spain, Germany, Britain and Brazil — in a bid to improve long-term performance.
The firm recorded a net loss of €1.08 billion from January to September, largely due to write-downs related to asset disposals in Latin America.
It has also announced plans to halve its dividend next year to 15 cents per share, part of a broader push to bring down its debt burden. ALSO READ: Spanish government takes 3% stake in Telefónica after Saudi deal concerns.
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🔴ENTREVISTA | Diego Gallart de @UGT_Comunica, sobre el ERE de Telefónica
🗣️”No nos gusta que cada plan estratégico requiera adecuación de plantilla. Pero, dado que la compañía ha decidido que sea así, exigimos que sea voluntario al 100%”
Audio completo🔗https://t.co/ODVqaRtdQb pic.twitter.com/wgBAkKNG31
— Las Mañanas de RNE (@LasMananas_rne) November 25, 2025
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