Vodafone to lay off 11,000 jobs in three years
- May 16, 2023
- 0
Vodafone will cut 11,000 jobs over the next three years as its new CEO plans to “simplify” the organization. As reported by Ukrinform, the BBC reported it. “My
Vodafone will cut 11,000 jobs over the next three years as its new CEO plans to “simplify” the organization.
As reported by Ukrinform, the BBC reported it.
“My priorities are customers, simplicity and growth. To regain our competitiveness, we will simplify our organization by removing complexity,” said Margherita Della Valle, Vodafone CFO.
He added that the efficiency of the company is not enough.
The outages represent around a tenth of the global workforce and will affect headquarters in the UK and elsewhere.
In the United Kingdom, Vodafone has 12,000 employees working in seven offices. Last year the firm had 104,000 employees worldwide.
“The British communications giant is grappling with high energy bills that drive up costs and impact profits. The company also saw weak sales in Germany, its largest market, and in Italy and Spain, where it struggled to keep up with its competitors.
Vodafone announced the layoffs after reporting a small increase in full-year sales to 45.7 billion euros and a drop in profits.
Shares of the company fell 5% on Tuesday.
As reported by Ukrinform, LinkedIn plans to lay off 716 people and shut down the China-based app due to fluctuations in demand.
Source: Ukrinform
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