Telefonica reaches deal to slash 2,700 jobs in Spain

Spain's Telefonica cut 2,700 jobs, the third European telco to do so, as the industry grappled with competing low-cost rivals and rolling out 5G. — REUTERS

Telefonica announced Tuesday an agreement with unions in Spain to cut around 2,700 jobs, part of a wave of job cuts in the telecom sector in the country this year.

The redundancy plan targets workers turning 55 or older in 2022 and with at least 15 years employment at the company, Telefonica said in a statement.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Tech News

CelcomDigi introduces new 5G postpaid plans, but with speed caps
China sells quantum chips to Middle East and Western countries in show of growing influence in sector
Elon Musk says Neuralink has never caused the death of a monkey
Love cover: China couple sue insurance firm for refusing to honour policy with RM6,500 payout for decision to live happily ever after
High school fires IT manager – then he launches cyberattack on its network, US feds say
Meta Platforms' paid ad-free service is targeted in EU consumer groups' complaint
Fraudsters target individuals with fake Ninja Van delivery notifications in email phishing scam in Singapore
Eminem in Fortnite? Check out his live in-game performance on Dec 3
India's Tata Technologies soars 180% in debut trade, valued at nearly $7 billion
Google strikes deal with Canada to pay for online news

Others Also Read