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Telefónicawatch

Telefónica FY25 spend: Group eyes ‘big year’ on savings

Richard Agnew2026-03-26T00:00:00

tfw201-fy25 spend

Source: Telefónica

With building blocks now in place for much of Telefónica’s multi-billion-euro ‘totex’ reduction plan, execs promise ‘significant’ progress on savings drive in FY26…

This article includes:

Themes: Cost‑saving programmes; Workforce restructuring; Redundancy schemes; Opex inflation; Totex reduction; Vendor renegotiation; Procurement optimisation; Capital‑intensity targets; Transform & Grow execution; Efficiency roadmap.
People: Emilio Gayo; Marc Murtra.
Geographic: Spain; Europe.
Organisations: Telefónica.

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