Telefónica to cut jobs in Spain

Telefónica has revealed to the labor union representatives that it plans to cut jobs in Spain, according to the UGT union. The company did not specify how many jobs it intends to cut. However, the Spanish newspaper Cinco Dias reports that there could be as many as 3,000 jobs.

The company is currently responsible for 21,000 employees in the country, and Spanish paper El Economista, reports that job losses would account for around 10 per cent of the workforce.

The union has been on Telefónica’s neck ever since the company kicked off its new three-year strategic plan, focused on growth, profitability, and sustainability. earlier this month. The union said, “UGT will lead a negotiation, which, repeating the success stories of the I and II CEV, will consolidate employment and strengthen the salary structure and the purchasing power of the people who work at Telefónica.”