A report by EY-Parthenon reveals that the major companies of the Ibex 35 increased their global workforce by 0.9% in 2025 and boosted employment in the domestic market by 1.8%. This makes Spain the only major country in continental Europe with net domestic job creation.
In an international environment marked by geopolitical uncertainty, technological disruption, and competitive pressures, top Spanish listed companies continue to demonstrate a solid capacity to generate wealth and employment.
According to the Employment Barometer report prepared by EY-Parthenon, companies included in the Ibex 35 increased their global headcount by 0.9% during 2025, adding around 11,600 professionals.
The most outstanding data point from EY’s analysis lies in the performance of the domestic market. While large corporations in neighboring countries drastically reduced their local workforces—with declines of 1.4% in France and 1.0% in Germany—Spanish companies increased their domestic workforces by 1.8%. This positions Spain as the only major market in continental Europe to generate net employment within its own territory. Furthermore, 65% of the companies in the Spanish benchmark index increased their global employment throughout the fiscal year, outperforming their French (55%) and German (54%) counterparts.
Driving sectors and international scope
The EY study notes that the positive trend in the Spanish index is largely due to the sector structure of its listed companies, which features a strong emphasis on activities linked to infrastructure, energy, financial services, tourism, technology, and engineering. By industry sector, the highest overall job growth occurred in Aerospace & Defense (+4.3%), Capital Goods (+2.9%), and Information Technology (+2.1%).
Likewise, the large companies listed on the Ibex 35 maintain a strong international orientation—74% of their total workforce operates outside Spain—which has not prevented them from continuing to strengthen local investment and employment in parallel.
Looking to the future, the analysis warns that the corporate sector is already preparing for the mass adoption of artificial intelligence (AI) between 2027 and 2028. Far from merely eliminating jobs, EY experts point out that the real challenge will lie in a profound reallocation of capabilities and a firm commitment to upskilling talent to transform technology into a sustainable engine of growth and competitiveness.
