Telefonica Announces Workforce Restructuring Plan in Spain

Telefonica, the Spanish telecommunications company, has proposed a workforce restructuring plan in Spain that will impact 5,124 jobs as part of its reorganization efforts. The plan, which aims to address organizational, technical, and production needs, was revealed by a spokesperson from trade union UGT to Dow Jones Newswires.

According to Telefonica's 2022 annual report, the company currently employs 20,947 individuals in its home market. While the company is yet to provide a comment on the matter, the spokesperson from UGT mentioned that affected employees may have the opportunity to be relocated to other activities within the company and receive training for other roles.

The employees who will be affected by the workforce adjustment plan are those who were born before 1968 and have been with Telefonica for at least 15 years. However, UGT argues that the actual number of impacted jobs should be considerably lower than the initial estimate.

The negotiations between Telefonica and the unions have already commenced, and the next meeting is scheduled for December 11th.