Vodafone to cut 11,000 jobs as UK suffers losses in worrying blow
By Jack Walters
Published: 16/05/2023- 08:18
Updated: 16/05/2023- 09:11
Vodafone will cut 11,000 jobs over the next three years as the telecommunications company moves to "simplify" plans.
More than one-in-ten workers face the axe over the decision.
Roles at Vodafone's Berkshire headquarters and local markets will be impacted after the company's CEO warned results had not been good enough.
Vodafone boss Margherita Della Valle revealed the cutbacks in her first results announcement since becoming permanent CEO.
Vodafone boss Margherita Della Valle revealed the cutbacks in her first results announcement since becoming permanent CEOPA
Vodafone reported a small rise in full-year sales and a fall in pre-tax profits.
She said: “Today I am announcing my plans for Vodafone.
"Our performance has not been good enough.
"To consistently deliver, Vodafone must change.
A person checks their phone as they wait to board a train at Kings Cross Station
“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."
Vodafone employed 104,000 people globally at the end of last year.
Vodafone employed 104,000 people globally at the end of last year
Jobs in Italy and Germany have been earmarked as other locations which face cuts.
However, Della Valle could not confirm how many roles in the UK would be impacted by the drastic change.
Vodafone has headquarters in both Berkshire and Paddington.
Former Vodafone boss Nick Read stepped down in early December after a four-year stint which was marked by a drop in the company's share price.
A closed Vodafone store
He left the telecommunications giant in talks over merging its UK operations with rival Three.
Three is owned by Hong Kong-based CK Hutchinson.
A £15billion deal is reportedly close to completion but there has been some hold up amid competition and national security concerns.