Vodafone to axe11,000 jobs new CE plans for simplification of the telecoms giant.

Vodafone to axe11,000 jobs
new CE plans for simplification of the telecoms giant.

Vodafone to axe 11,000 jobs over next three years with new Chief Executive Margherita Della Valle plans to “simplify” the telecoms giant.

The axe equal more than a tenth of its workforce impacting its UK headquarters and other countries.

As per Vodafone Chief Executive Margherita Della Valle, also its finance director, overall performance has not been good enough.

Vodafone has two headquarters in the UK, its head office in Reading and a group office in London’s Paddington.

The firm has already outlined plans to cut jobs in Germany and Italy too.

Della Valle, who was appointed Vodafone’s new chief in January, advocated that to consistently deliver, Vodafone need to change.

Her priorities are customers, simplicity and growth. They will simplify their organisation, cutting out complexity to regain competitiveness.”

The job cut was initiated following a small rise in full-year sales and a fall in pre-tax profits.

It also forecast broadly flat earnings for the current financial year.

Vodafone’s former boss Nick Read stepped down in December amid concerns over the group’s performance.

He had unveiled plans to achieve around €1bn of cost savings at the telecoms firm and signalled that job cuts were likely.

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News input KV Raman