Telefonica proposes laying off more than 5,000 workers in Spain, union says

Telefonica has proposed laying off 5,040 people in Spain as part of cost-cutting efforts envisaged in its new strategy, trade union UGT said on Monday.

If carried out, the layoffs would affect 41% of employees in the Telefonica de Espana unit, 31% of Telefonica Moviles and 24% in Telefonica Soluciones, adding up to around 20% of Telefonica’s staff in Spain of roughly 25,000.

The company is set to meet again with unions on Tuesday to present its proposal for layoffs at another four domestic units.