Significant job cuts have been announced at both Mediapro and Telefónica in Spain.

Telefónica is preparing to shed more than 6,000 employees across seven of its subsidiaries — including Telefónica de España, Telefónica Móviles, Telefónica Soluciones, Movistar+, Telefónica S.A., and Telefónica Global Solutions — as negotiations begin on a series of redundancy plans.

The proposed distribution of the redundancies is as follows: 3,649 roles at Telefónica de España, representing 41.04 per cent of its 8,892-strong workforce; 1,124 positions at Telefónica Móviles, amounting to 31.34 per cent of its 3,587 employees; and 267 jobs at Telefónica Soluciones, or 23.89 per cent of a total staff of 1,118.

Movistar+ is also among the affected subsidiaries, with the company’s management forecasting up to 288 job losses. Meanwhile, Telefónica Global Solutions (TGS) is expected to part with 140 employees.

Telefónica Innovación Digital — the group’s unit responsible, among other duties, for network API services, which enable users to tailor network functions through small software modules — plans to reduce its workforce by 233 staff. Finally, the parent company, Telefónica S.A., anticipates cutting up to 378 positions.

The restructuring comes shortly after Telefónica unveiled its strategic plan for 2026–2030, which targets up to €2 billion in operating cost savings. The proposed workforce adjustment forms a central part of that objective.

Menawhile, Mediapro has launched a redundancy plan affecting around 1,000 employees — roughly 14 per cent of its workforce — as the company grapples with mounting financial losses and prepares for a major restructuring designed to secure its future in an increasingly competitive market.

The overhaul follows a period of severe financial strain. The new leadership team, headed by president Sergio Oslé and chief executive Carlos Núñez, has concluded that a deep workforce reduction is essential to stabilise the business, according to sources close to the company.

The crisis at Mediapro stems largely from substantial losses recorded in recent years. In 2024, the group posted a deficit of €72 million, prompting concern among investors, particularly its majority shareholder, the Chinese fund Orient Hontai Capital.

The situation has been compounded by a series of strategic missteps. The company has lost key sports broadcasting rights and made an unsuccessful bet on eSports — a venture that failed to deliver the expected returns.

This, however, is only part of the challenge. Mediapro has also lost the contract to produce La Liga broadcasts, stripping the firm of a major source of recurring income. The blow is especially damaging given the company’s large-scale operations: Mediapro runs one of Europe’s biggest mobile broadcasting fleets — more than 100 mobile units — and employs over 5,000 professionals in production, directing, and related roles. The loss of such a significant contract threatens the sustainability of this operational model.

Other posts by :

1. Deutsch Bank reveals targets for AST SpaceMobile
2. AST SpaceMobile boss outlines benefits
3. Report: LEO build-out accelerates
4. Germany outlines space commitment
5. Analysis: Impact of AT&T on US telcos and cable
6. Bezos rocket production boosted
7. Musk delays Moon landing until 2027
8. Hughes Satellite facing cash crunch
9. Major banks support AST SpaceMobile

Categories: Business, Headline

Tags: la liga, Mediapro, spain, telefonica