By Adria Calatayud

Telefonica is looking to cut more than 5,000 jobs in Spain, a union spokesman said, as the Spanish telecommunications company seeks to rein in costs.

In talks with labor representatives, the company proposed cutting 5,040 roles in Spain across three different subsidiaries, citing organizational, technical and production reasons, a spokesman from Spanish union UGT said Monday. This would amount to roughly a fifth of Telefonica's workforce in its home country.

Telefonica declined to comment.

The latest proposal comes after another round of job cuts at the group's Spanish operations last year that saw around 3,000 workers leave the company. UGT demanded that the new job cuts be carried out through early retirements, the spokesman said.

At the end of 2024, Telefonica employed around 25,000 people in Spain and around 101,000 globally.

The company recently said it would halve its dividend for next year and outlined measures to cut costs, in an effort to lower debt and invest in its operations.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

November 24, 2025 10:33 ET (15:33 GMT)

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