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Vodafone group to cut 11,000 jobs

The company’s new CEO Margherita Della Valle has outlined her strategy to restore growth.

Della Valle has told investors that the telecoms group “must change” to end a period blighted by poor performance in its largest market and a slumping share price. The job cuts will affect both the company’s UK headquarters and its local markets.

The job cuts equate to around 12% of the company’s global employees. Vodafone says cost savings will be used to improve customer service and bolster the Vodafone brand.

Vodafone operates in 11 European countries, including 9 EU Member States. Markets include Germany, Spain, Italy and Ireland. Della Valle was made permanent CEO of the company last month after serving as interim boss following the departure of former CEO Nick Read last year.

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