Vodafone Announces 11,000 Job Cuts Over The Next Three Years

Vodafone to cut 11,000 jobs
Vodafone to cut 11,000 jobs

Vodafone will cut 11,000 jobs over the next three years as part of the new CEO’s plans to “simplify” the telecoms giant,

More than a tenth of its employees will be let go, and the cuts will affect its UK offices and other places.

Margherita Della Valle, who is also the finance head of Vodafone, said that the company has “not done well enough.”

BBC shared this news a few minutes ago via tweet-

It also said that its sales for the whole year barely went up and that its income before taxes went down.

The company has two places in Britain where it is based. The UK head office of Vodafone is in Reading, while the group office is in Paddington, London.

Vodafone Announces 11,000 Job Cuts over The Next Three Years
Vodafone Announces 11,000 Job Cuts Over The Next Three Years

Vodafone has already told people in Germany and Italy about its plans to cut jobs.

Ms. Della Valle, who became the new CEO of Vodafone in January, said: To consistently deliver, Vodafone must change.

“My priorities are customers, simplicity and growth. We will simplify our organization, cutting out complexity to regain our competitiveness.”

It cut jobs after stating that its full-year sales went up by a small amount to €45.7 billion (£39.7 billion) but that its pre-tax profits went down.

It also said revenue would be “broadly flat” for the current financial year.

Nick Read, who used to be CEO of Vodafone, quit in December because he was worried about how well the company was doing.

He had said that the telecoms company would cut costs by about €1 billion and that job cuts were expected.

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