The logo of Spanish telecoms firm Telefonica is seen atop the company's building in Madrid, Spain, September 6, 2023.
REUTERS/Violeta Santos Moura//File Photo Acquire Licensing RightsMADRID, Dec 4 (Reuters) - Telefonica told unions on Monday it was seeking to cut around 5,100 jobs in Spain by 2026 in an effort to reduce costs and adapt the company's size to the current market, a UGT union spokesperson said.
The company based the decision on productivity, organization and technical reasons, the union spokesman said as Telefonica and the unions started negotiating the layoffs.
In a statement Telefonica confirmed the labour "adjustment", but declined to say how many jobs it intended to axe.
The company will negotiate the extent of the job cutting with the union, so that the actual cuts could be fewer than the 5,100 ones targeted by the company, UGT spokesperson Diego Gallart said.
Persons:
Violeta Santos Moura, Diego Gallart, Inti Landauro, Matteo Allievi, Jakub Olesiuk, Andrei Khalip, Jan Harvey
Organizations:
Telefonica, REUTERS, Rights, Thomson
Locations:
Madrid, Spain