Telefónica Announces Exit Plans and Collective Agreements

TL;DR

Telefónica's 6-K filing details exit plans and collective agreements, signaling potential workforce changes.

AI Summary

Telefónica, S.A. announced on December 22, 2025, information regarding exit plans and the signing of Collective Agreements. The company, headquartered in Madrid, Spain, is a foreign private issuer filing a Form 6-K report.

Why It Matters

This filing provides insight into Telefónica's operational restructuring and employee relations, which could impact future business strategies and workforce stability.

Risk Assessment

Risk Level: low — The filing is a routine report of foreign private issuer information and does not contain immediate financial or operational risks.

Key Players & Entities

• Telefónica, S.A. (company) — Registrant
• December 22, 2025 (date) — Filing date
• Madrid, Spain (location) — Company headquarters

FAQ

Filing Documents

• form6salidas.htm (6-K) — 19KB
• image_0.jpg (GRAPHIC) — 4KB
• 0000814052-25-000118.txt ( ) — 26KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December, 2025 Commission File Number 001-09531 Telefnica, S.A. (Translation of registrant's name into English) Distrito Telefnica, Ronda de la Comunicacin sn, 28050 Madrid, Spain +34 91-482 87 00 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F X Form 40-F Telefnica, S.A. TABLE OF CONTENTS Item Sequential Page Number 1. Telefnica announces information about exit plans and signing of Collective Agreements. 2 TELEFNICA, S.A. (Telefnica), in accordance with the provisions of stock market legislation, communicates the following OTHER RELEVANT INFORMATION Within the framework of Telefnica Group's Transform Grow Plan 2026–2030, and with the aim of moving towards a more digital, flexible Group and prepared for future challenges in a highly competitive and deeply transforming environment, Telefnica de Espaa, S.A.U., Telefnica Mviles Espaa, S.A.U., Telefnica Soluciones de Informtica y Comunicacin de Espaa, S.A.U. (hereinafter, collectively referred to as Telefnica Espaa), Telefnica Audiovisual Digital, S.L.U., (hereinafter, referred to as Movistar Plus+), Telefnica Global Solutions, S.L.U, Telefnica Innovacin Digital, S.L.U. and Telefnica, S.A. (hereinafter, collectively referred to as Corporate Units) together with the most representative Trade Union Organisations, have reached various agreements regarding collective bargaining, aligned with the strategy of the aforementioned Telefnica Group Plan. Regarding Collective Bargaining Agreements, both Telefnica Espaa and the Corporate Units have reached an agreement to sign the extension of their respective Collective Bargaining Agreements, and Movistar Plus+ has agreed to sign its new Collective Bargaining Agreement. In all cases, the Agreements will remain in force until 31 December 2030. Furthermore, an agreement has been reached with the most representative Trade Union Organisations and for the indicated scope, to implement exit plans estimated at around 5,500 employees. The conditions for adherence will be set out in each of the plans, and all employees who meet the requirements established in each of them may adhere. These agreements will enable, among other aspects, to continue focus on retaining and attracting the best talent, invest in the development of distinctive workforce capabilities, and consolidating new, more flexible and digital ways of working, based on autonomy, individual responsibility, and contribution to results. In parallel, actions are being pursued to simplify the operating model. The present value of estimated costs of the exit plans across all affected companies amounts to a total provision of approximately 2,500 million euros, before taxes. For Telefnica Espaa and Movistar Plus+ the provision will be of approximately 2,300 million euros and approximately 200 million euros for the Corporate Units. Average annual savings in direct costs for the Group are estimated at around 600 million euros from 2028 onwards. On a detailed breakdown, annual savings are expected to be approximately 500 million euros in Telefnica Espaa and Movistar Plus+, and approximately 60 million euros in Corporate Units. In any case, the impact on cash generation will be positive from 2026, as will the capture of savings, given that employee exits are expected to begin as early as the first quarter of 2026. In Madrid, on 22 December 2025. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Telefnica, S.A. Date December 22, 2025 By s Pablo de Carvajal Gonzlez Name Pablo de Carvajal Gonzlez Title Secretary to the Board of Directors

View Full Filing

View this 6-K filing on SEC EDGAR