Heavily indebted Telefonica to slash 5,100 jobs in Spain

By Agence France-Presse

Dec 06, 2023 12:22 am

MADRID: Spanish telecoms giant Telefonica will axe nearly 5,100 jobs in its home market by 2026, a union said on Monday, as it pushes to slash costs and boost profitability.

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 UGT union said in a statement.

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