Vodafone has introduced a large programme of job losses, that may influence its UK operations, in a bid to get well its monetary efficiency.
The firm’s new chief government stated the telecoms agency had change into uncompetitive and 11,000 roles would go over the following three years.
The group employs simply over 100,000 folks globally.
Vodafone was but to answer requests for data on what number of UK roles can be affected but it surely was confirmed that its UK headquarters, in Berkshire, would see an influence.
Margherita Della Valle, who was completely appointed CEO final month after her predecessor Nick Read was ousted late final yr, stated: “Our efficiency has not been ok.
“My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness.”
She was talking as Vodafone reported a 1.3% drop in full-year earnings to £12.8bn.
That determine missed its personal steering.
The firm forecast little or no development in the identical measure over the present monetary yr – with Germany, its greatest market, proving the key drag.
Growth in Africa and better handset gross sales, nevertheless, enabled it to eek out a 0.3% rise in income over the 12 months.
Source: information.sky.com”