Domestic giants Atresmedia and Movistar Plus+ to axe hundreds of roles amid TV advertising decline
Spain’s TV industry is bracing itself for a raft of cuts after regional giants Atresmedia and Movistar Plus+ revealed plans to lay off hundreds of staff.
Atresmedia is cutting around 135 employees from its ranks via a voluntary redundancy plan, according to information obtained by Spanish trade title Audiovisual451.
The restructuring, which is currently being implemented, aims to streamline the group’s management and to promote young talent already working within the company. Atresmedia employed around 2,500 staff in 2025.
The voluntary redundancy plan affects employees over 57 years of age with a certain tenure at the group and provides 70% of salary until the age of 65, with a clause prohibiting them from working for another company in the TV sector.
A similar program was offered to employees in 2020, when 110 people left Atresmedia.
The Antena 3 and La Sexta owner has been looking to reduce costs over the past 12 months while also attempting to diversify revenue streams by acquiring companies such as event organiser Last Lap and ad agency Clear Channel, with the latter deal awaiting regulatory sign-off.
Atresmedia has also continued to invest in production companies with the creation of Sábado Time, in partnership with the Catalan companies Sábado Películas and Playtime Movies.
The company has also found success with streamer Atresplayer, which struck an eye-catching pact with Disney+ last year, and with the distribution of its original productions through sales to third parties.
That activity is aimed at mitigating the decline in TV advertising investment, which fell 5.6% between January-October 2025 according to InfoAdex.
From January to September 2025, advertising revenue for Atresmedia’s audiovisual division fell by 5.7% compared to the same period in 2024, reaching €529m ($459m).
Movistar Plus+ cuts
European telco giant Telefónica has also revealed it is cutting more than 5,500 jobs across its organization, with around 175 positions set to be cut at its Movistar Plus+ operation.
Telefónica and Spanish unions have been engaged in talks over the cuts, with employees able to indicate their intention to join the redundancy plan between 7 January and 6 February.
Cuts are being made across seven companies grouped under Telefónica: Movistar Plus+ (Telefónica Audiovisual Digital), Telefónica de España (Telefónica de España, Telefónica Móviles España, Telefónica Soluciones de Informática y Comunicación de España) and the so-called Corporate Units (Telefónica Global Solutions, Telefónica Innovación Digital and Telefónica).
According to the telecom company, the cost of the redundancy plans across all affected companies is expected to come in at €2.5bn, before taxes, with Telefónica España and Movistar Plus+ providing around €2.3bn of that total.
Average annual savings in direct expenses are estimated at close to €600m from 2028 onwards, the telco added, with around €500m being cut from Telefónica Spain and Movistar Plus+.
No comments yet