Unions say Telefonica scales back Spain layoff plan by a quarter

Group 1 - Telefonica has proposed to cut more than 4,500 jobs across several units in Spain, with the plan being described as fully voluntary by union representatives [1] - The job cuts are part of a broader restructuring effort within the company to improve operational efficiency and adapt to changing market conditions [1] - Union representatives have indicated that the proposal aims to minimize the impact on employees, emphasizing the voluntary nature of the job reductions [1] Group 2 - The restructuring plan reflects ongoing challenges in the telecommunications industry, including increased competition and the need for cost management [1] - Telefonica's decision aligns with trends seen in the industry where companies are seeking to streamline operations in response to economic pressures [1] - The job cuts may also be influenced by the company's strategic focus on digital transformation and investment in new technologies [1]