Vodafone, the telecoms giant, has announced plans to cut 11,000 jobs across its global operations over the next three years as part of a turnaround plan to improve its performance and competitiveness.
The company’s new chief executive, Margherita Della Valle, who took over the role in May, said the company needed to change and simplify its organisation, as its current performance was “not good enough”.
The job cuts will affect all regions where Vodafone operates, including the UK, where it is based in Reading. The company did not specify how many UK jobs would be lost.
The announcement came as Vodafone reported flat revenues for the year ending March 31, which it said was in line with its expectations. The company said it faced challenges from the Covid-19 pandemic, regulatory pressures and increased competition.
Ms Della Valle said: “Our performance has not been good enough. To consistently deliver, Vodafone must change. We will simplify our organisation, cutting out complexity to regain our competitiveness.”
She added that the company would focus on its core markets and products, invest in its network and digital capabilities, and improve its customer service and loyalty.
Vodafone is one of the world’s largest telecoms companies, with operations in 21 countries and partnerships in 49 more. It has about 300 million customers and employs about 100,000 people.
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