Telefonica Seeks Leaner, Bolder Structure Under Chief’s Review

An executive shake-up, potential job cuts and a pledge to do more deals all offer glimpses into the Telefonica SA chairman’s ongoing strategic review, set to be presented next month with the ambition of kick starting growth at the Spanish carrier.

Group Chairman Marc Murtra took the post in January and is seeking to overhaul the carrier which, like other European operators, is struggling with competition and sluggish growth.

Murtra will present his new strategy on Nov. 4, but has already acted to try and turn the carrier’s fortunes around. Although he has praised the depth of talent at Telefonica, ...