Vodafone plans 11,000 job cuts as new boss rues efficiency

Vodafone has introduced an enormous programme of job losses, that may impression its UK operations, in a bid to get well its monetary efficiency.

The firm’s new chief govt stated the telecoms agency had turn out to be uncompetitive and 11,000 roles would go over the subsequent three years.

The group employs simply over 100,000 individuals globally.

Vodafone was but to reply to requests for data on what number of UK roles could be affected however it was confirmed that its UK headquarters, in Berkshire, would see an impression.

Margherita Della Valle, who was completely appointed CEO final month after her predecessor Nick Read was ousted late final yr, stated: “Our efficiency has not been adequate.

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

She was talking as Vodafone reported a 1.3% drop in full-year earnings to a lower-than-expected £12.8bn.

The firm forecast little or no progress in the identical measure over the present monetary yr – with Germany, its greatest market, proving the foremost drag.