Vodafone Layoffs: British Telecom Giant To Slash 11,000 Jobs Over Three Years, CEO Margherita Della Says 'Performance Hasn't Been Good Enough'
British mobile phone giant Vodafone on Tuesday said that it plans to layoff 11,000 employees over the next three years after chief executive Margherita Della Valle said she seeks a "simpler" organisation. While announcing the layoffs, Margherita Della Valle said in a statement, “to consistently deliver, Vodafone must change.”
Delhi, May 16: British mobile phone giant Vodafone on Tuesday said that it plans to layoff 11,000 employees over the next three years after chief executive Margherita Della Valle said she seeks a "simpler" organisation. While announcing the layoffs, Margherita Della Valle said in a statement, “to consistently deliver, Vodafone must change.” Vodafone forecasts little or no growth in earnings for the new financial year.
Margherita Della Valle further said that “My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness. We will reallocate resources to deliver the quality service our customers expect, and drive further growth from the unique position of Vodafone Business.” Amazon Layoffs: Amazon India Lays Off 400-500 Employees as Part of Global Restructuring.
The company said that it plans to win its consumer markets and it will refocus on the basics and deliver "the simple and predictable experience" its customers expect. Happay Layoffs: CRED-Owned Expense Management Platform Lays Off 35% of Its Workforce, 160 Employees Asked To Go.
The Company’s action plan is now focussed around three priorities which are significant investment reallocated in the coming fiscal towards customer experience and brand, 11,000 job cuts over three years, with both HQ and local markets simplification, and a Germany turnaround plan, continued pricing action and strategic review in Spain.
The Mobile phone giant has recently cut jobs in several of its big markets, shedding 1,000 in Italy earlier this year and a media report said it was looking to cut around 1,300 in Germany.
The company said that Germany, its biggest market, was underperforming, which combined with higher energy costs would result in a 1.3% decline in group core earnings to 14.7 billion euros for the year to end-March, in line with market expectations.
Growth in Africa and higher handset sales, however, enabled it to eek out a 0.3% rise in revenue to 45.7 billion euros.
(The above story first appeared on LatestLY on May 16, 2023 12:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).