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O2 Telefónica will cut one in six jobs and close around 60 shops

O2 Telefónica plans to cut up to 1,100 full-time positions in Germany by the end of 2026 and to close about 60 of its roughly 800 company-owned shops. The restructuring is expected to cost about €265 million; further provisions of up to €155 million are planned for a second round of savings. The goal is an annual cost reduction of roughly €185 million from 2028; the company cites efficiency measures, the use of AI and the loss of major customer 1&1 as reasons. The union Verdi criticizes that the savings could endanger customer support and service quality. » Plus sur finanzen.net