09:11 AM EST, 11/24/2025 (MT Newswires) -- Telefonica SA ( TEF ) intends to eliminate at least 5,040 positions, Bloomberg reported Monday, citing a UGT union spokesperson.

The workforce reduction covers Telefonica ( TEF ) de Espana, Telefonica Moviles and Telefonica Soluciones, according to the report.

Telefonica ( TEF ) didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)