'Performance not good enough': Vodafone plans 11,000 job cuts over three years
New Delhi, May 16: Vodafone on Tuesday announced its plan to cut 11,000 jobs over the next three years. The layoffs come 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.
"Our performance has not been good enough. To consistently deliver, Vodafone must change," Della Valle said.
"My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness. We will reallocate resources to deliver the quality service our customers expect, and drive further growth from the unique position of Vodafone Business," she added.
The action plan, according to Vodafone, is centred on three priorities: significant investment reallocated in the coming fiscal year towards customer experience and brand, 11,000 role reductions planned over three years, with both HQ and local market simplification, and a Germany turnaround plan, continued pricing action, and strategic review in Spain.
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