Vodafone Announces 11,000 Job Cuts Over The Next 3 Years

Vodafone stated on Tuesday, May 16, that it would shed 11,000 positions over the next three years as part of a turnaround strategy to remedy its financial issues.

Vodafone’s Strategic Plans

Margherita Della Valle, the new Chief of Vodafone, unveiled the company’s critical strategic goals after the FY23 performance fell short of expectations.

Vodafone, a global telecommunications firm based in the United Kingdom, intends to eliminate a staggering 11,000 positions to cut expenses and become more efficient. The layoff will be carried out over the next three years as part of the telco’s strategic plan. 

Customers, simplicity, and growth are Valle’s top goals. Vodafone has already started working on an action plan with these three goals to carry out its restructuring in four years.

Achieving Simplicity, Growth, And Customer Satisfaction

The company plans to streamline its organization and eliminate complexity to regain its competitiveness. The firm will reallocate resources to provide the high-quality services that the clients want and capitalize on Vodafone Business’s unique position.

Thus the new chief suggested “11,000 role reductions planned over three years, with both HQ and local markets simplification” to achieve simplicity.

Vodafone plans to zero in on the essentials and provides the basic, consistent experiences that customers need to succeed in consumer markets.

Additionally, Vodafone has a growth strategy that includes a strategic assessment in Spain, pricing action, and a new plan for Germany.

As per Mint reports, the downturn displayed by Vodafone in FY23 was consistent with forecasts. But with growth in Africa and more significant equipment sales offsetting declines in European service income and unfavorable currency rate movements, the Group’s revenue climbed by 0.3% to €45.7 billion.

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