“My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness,” Vodafone’s new boss Margherita Della Valle said.
2023 Layoffs: Telecoms giant Vodafone will cut 11,000 jobs over the next three years as new chief executive Margherita Della Valle seeks a “simpler” organisation as it forecasts little or no growth in earnings for the new financial year.
Della Valle, who was made permanent chief executive last month, set out a strategy for the group on Tuesday, outlining the ways in which “Vodafone must change”. Vodafone employs about 104,000 people, according to its latest annual report.
“My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness,” Vodafone’s new boss Margherita Della Valle said.
She said: “Today I am announcing my plans for Vodafone. Our performance has not been good enough. To consistently deliver, Vodafone must change.
It comes as Vodafone reported a 1.3% drop in full-year earnings to a lower-than-expected 14.7 billion euros (£12.8 billion) and forecast little or no growth in earnings over the current financial year.
The group’s former boss Nick Read, who was ousted abruptly in December due to concerns over the group’s performance, unveiled plans late last year to drive around one billion euros (£883 million) of cost savings.
The firm said at the time it could lead to job losses but did not put a figure on the number of roles being cut.
Vodafone 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.
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