Telefónica announced up to 5,040 job cuts across its Spanish subsidiaries, including expected additional layoffs at Movistar Plus +, with the General Union of Workers (UGT) meeting company management to discuss further reductions.Telefónica reported a net loss of €1.08 billion for the first nine months and plans to halve its shareholder dividend for 2026 after recent corporate developments involving STC and SEPI.