Vodafone Plans To Cut 11,000 Jobs In Three Years To Reduce Costs And Regain Competitive Position

Written by Bruno Teles

Published on 16/05/2023 at 18:22

FOTO: Vodafone

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The New CEO of Vodafone, Margherita Della Valle, Announced That the Company Plans to Cut 11 Thousand Jobs Over a Three-Year Period in an Attempt to Reduce Costs and Regain Its Competitive Position in the Market.

The telecommunications company had previously warned that the underperformance of its largest customer base, Germany, would affect its cash flow.

Vodafone’s shares, which have underperformed against its competitors in many of its key European markets, fell to a low since the beginning of the year and were traded down 5.5% on Tuesday.

The Mass Layoffs That Vodafone Plans Are the Largest in Its History.

The company directly employs 90,000 people in Europe and Africa. Della Valle has already begun to streamline the company’s operations in London since taking over as CEO earlier this year. Now, the new cuts will be distributed across all markets where Vodafone operates, and more jobs will be reduced in the center.

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Vodafone Reported a 1.3% Decline in Group Earnings, Reaching €14.7 Billion for the Year, in a Scenario Where the Company Itself Had Projected Growth.

Etisalat, a telecommunications company from the United Arab Emirates, acquired a 14.6% stake in Vodafone, while French telecommunications billionaire Xavier Niel, a competitor of Vodafone in Italy, and Liberty Global, a partner of the company in the Netherlands, are also investors.

Analysts argue that with the sale of Vodafone’s operations, all three investors have a chance to profit.

In her strategy, Della Valle stated that she will maximize the potential of business customers, a historical strength of Vodafone, while focusing on basic aspects such as improving customer service for consumers. Vodafone had already started cutting jobs in key markets by eliminating a thousand positions in Italy and is expected to cut around 1,300 jobs in Germany, according to media reports.

Vodafone Plans To Cut 11,000 Jobs In Three Years To Reduce Costs And Regain Competitive Position

The New CEO of Vodafone, Margherita Della Valle, Announced That the Company Plans to Cut 11 Thousand Jobs Over a Three-Year Period in an Attempt to Reduce Costs and Regain Its Competitive Position in the Market.

The Mass Layoffs That Vodafone Plans Are the Largest in Its History.

Vodafone Reported a 1.3% Decline in Group Earnings, Reaching €14.7 Billion for the Year, in a Scenario Where the Company Itself Had Projected Growth.

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Vodafone Plans To Cut 11,000 Jobs In Three Years To Reduce Costs And Regain Competitive Position

The New CEO of Vodafone, Margherita Della Valle, Announced That the Company Plans to Cut 11 Thousand Jobs Over a Three-Year Period in an Attempt to Reduce Costs and Regain Its Competitive Position in the Market.

The Mass Layoffs That Vodafone Plans Are the Largest in Its History.

Vodafone Reported a 1.3% Decline in Group Earnings, Reaching €14.7 Billion for the Year, in a Scenario Where the Company Itself Had Projected Growth.

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

Levi’s sees FIFA cover its logo at the 2026 World Cup, joins in the fun without losing style, and turns a white cloth into marketing that goes viral on social media.

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Levi’s sees FIFA cover its logo at the 2026 World Cup, joins in the fun without losing style, and turns a white cloth into marketing that goes viral on social media.

Dissatisfied with seeing laptop batteries go to waste, a man collects more than 650 units and transforms the electronic waste into a solar energy storage bank to power his house.

Ferrari sees more than $4 billion evaporate after unveiling its first 100% electric car priced at $640,000, with investors questioning if the Luce still looks like a Ferrari.

Government announces R$ 370 million for those who preserve the forest and an unprecedented initiative places traditional Amazonian communities at the center of conserving a vast area.

Accessible only by boat, an old house from 1862 is up for sale for R$ 19.4 million in the USA with a famous artist’s studio, pier, and over 10 preserved hectares.