12:03 PM EDT, 04/04/2025 (MT Newswires) -- (Updates with statement from Telus ( TU ) in the fourth paragraph.)

Meta Platforms ( META ) canceled its content moderation contract with Telus ( TU ) in Barcelona, Spain, and the Vancouver-based telecommunications company may cut as many as 2,000 jobs, Reuters reported Friday, citing local unions CCOO and UGT.

Employees on Thursday were placed on leave with pay but no assigned work as Telus ( TU ), operating locally as CCC Barcelona Digital Services, negotiates severance with unions, the report said.

A Meta spokesperson said the company moved the services from Barcelona to other locations, and content review isn't being reduced, according to the report.

"Our clients are diversifying their presence and transferring their services to other locations," Telus ( TU ) said in a statement to MT Newswires, adding that it "will support all affected team members with comprehensive transition assistance."

Meta didn't immediately respond to requests 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.)

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