Overview
- The company raises severance to 47 days per year worked, capped at 36 months, for employees not eligible for early retirement.
- Voluntary exit bonuses tied to seniority range from €2,500 for under eight years of service to €9,000 for more than 24 years.
- Targets are reduced in three central units: Telefónica S.A. to 340, Global Solutions to 126, and Innovación Digital to 210.
- The aggregate plan now foresees 5,961 departures across seven subsidiaries, down from an initial 6,088.
- Telefónica extends the CEV for key Spanish units to December 31, 2030, pledging no additional cuts there without union accord.