This Monday, December 29, Telefónica will open the voluntary membership period for the Employment Regulation File (ERE) launched in seven subsidiaries of the group in Spain.
Concretely, the separation registration period begins in the three subsidiaries governed by the Related Companies Agreement (CEV) (Telefónica de España, Telefónica Soluciones and Telefónica Móviles), and in the three subsidiaries known as GBU (Digital Innovation, Global Solutions and Telefónica SA), according to the schedule agreed by management and union representation.
The registration deadline will be open until January 29 for CEV companies and until January 26 for GBUs.
Concerning the seventh company affected by the adjustment, Movistar Plus+, employees will be able to request departure from January 7 to February 6.
The next step in the adjustment process will be the communication by the company of acceptances of voluntary departures and possible forced departures, between February 12 and 16.
Telefónica has agreed with the UGT, CCOO and Sumados-Fetico unions on a minimum starting threshold of 4,525 layoffs (25.6% of the 6,088 proposed by the company before the start of negotiations and 26.2% of the 17,248 employees who make up the total workforce of the seven subsidiaries concerned). The company, however, leaves the door open to a total of 5,500 departures, depending on the volume of requests.
Telefónica has provisioned approximately 2.5 billion euros before taxes to face this ERE, 2.3 billion for Telefónica España and Movistar Plus+ and 200 million for the corporate units.
The cost per employee who leaves the company would be around 454,000 euros, above the 380,000 euros from the previous ERA of 2024, during which 3,420 workers left.
Remuneration includes different income brackets depending on age. People born between 1969 and 1971 will receive 68% of salary until age 63 and 38% after this age; for those born between 1965 and 1968, there will be 62% up to 63 and 34% thereafter, and for those born in 1964 or before, 52% up to 63 and 35% thereafter.
To join, you must have 15 years of experience at CEV and 13 years in small subsidiaries.
The listed company hopes to achieve annual savings of almost 600 million euros from 2028, including around 500 at Telefónica España and Movistar Plus+, and almost 60 million euros in the Corporate Units. The impact on cash generation will be positive from 2026, as will the capture of savings.
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