Telefonica plans to lay off 6,000 workers this year, Expansion reports

Core Insights - Spanish telecoms group Telefonica plans to lay off at least 6,000 employees across several units before the end of the year [1] Company Actions - The layoffs are part of a broader restructuring strategy aimed at improving operational efficiency and reducing costs [1] - The decision reflects ongoing challenges within the telecom industry, including increased competition and pressure on profit margins [1] Industry Context - The telecom sector is facing significant changes, with companies needing to adapt to evolving market conditions and consumer demands [1] - Layoffs in the industry are becoming more common as firms seek to streamline operations and enhance profitability [1]