Telefonica to slash 5,100 jobs in Spain by 2026, says union

Madrid: Spanish telecoms giant Telefonica will axe nearly 5,100 jobs in its home market by 2026 — roughly one third of its posts in Spain — a union source said on Monday.

The staff cuts, which were announced during a meeting between management and unions, will affect all areas of the debt-laden company’s business in Spain, the source told AFP.

Spain’s largest telecoms company employs about 16,500 people in its home country, while its global workforce is over 100,000. It is present in 12 nations including Brazil, Britain and Germany.