Telefonica

O2 Telefónica will cut up to 1,100 full-time positions in Germany by the end of the year (about one in six jobs) and close roughly 60 of its own shops; severance payments and offers for voluntary departures will be provided. Restructuring costs are expected to amount to €265 million, and additional provisions of up to €155 million will be set aside for a second savings round through 2028. The goal is an annual cost reduction of about €185 million from 2028; the company cites efficiency measures, increased use of artificial intelligence and revenue pressure after losing its largest corporate customer, 1&1, as reasons. » More on finanzen.net

O2 Telefónica apparently plans to eliminate over 1,000 of the 6,820 jobs most recently in Germany, affecting about one in six positions. Verdi criticizes that the job cuts look like a cost-saving program imposed solely by the Spanish parent company, without a clear vision for the company’s future direction in Germany. Telefónica Deutschland is examining various measures to secure competitiveness; most of the reductions are to take place this year and are creating uncertainty among employees. » More on finanzen.net

O2 Telefónica will cut more than 1,000 jobs as part of a comprehensive transformation to secure competitiveness in Germany, equivalent to about one in six to seven positions. CEO Santiago Argelich Hesse is negotiating with employee representatives; agreements for voluntary severance have already been reached in some areas. The moves follow the loss of the major customer 1&1, a declining business and a saturated mobile market; in 2025 revenue fell by 3.8% to €8.2 billion and adjusted EBITDA declined by 8.8% to €2.5 billion. » More on manager-magazin.de