Archive · 22 Dec 2025
Telefonica to cut 5,500 jobs
Telefonica, a big phone company, is going to let go of about 5,500 workers.
This will cost the company a lot of money now, but they think it will save them over $700 million every year.
Most of these jobs are in Spain.
The company's boss said they need to spend less money because they are making less money than they thought.
This isn't the first time they've done this - they cut a lot of jobs last year too.
Telefonica has been around for a long time and works in many countries.
Telefonica SA plans to cut 5,500 jobs as part of a cost-reduction strategy.
The job cuts are expected to primarily affect employees in Spain.
The company estimates the layoffs will cost $2.9 billion but save over $700 million annually.
Employees are expected to exit beginning early next year, with positive cash impact from 2026.
This follows previous job cuts in 2023 and a reduction in the company's cash flow outlook for 2025.
- Who
- Telefonica SA
- What
- Job cuts of 5,500 employees
- When
- Exit plans to begin early 2025
- Where
- Primarily in Spain
- Why
- To reduce operational expenses and improve cash generation
- Company
- Telefonica SA
- Job Cuts
- 5,500
- Cost
- $2.9 billion
- Annual Savings
- Over $700 million
- Impacted Country
- Spain
- Expected Exit Timeline
- Early 2025
- Global Workforce
- 100,000
- Spain Workforce
- 25,000