Vodafone Group Plc, a British multinational telecommunications company with its headquarters in Berkshire, England, is a formidable force in the industry. With operations spanning Asia, Africa, Europe, and Oceania, Vodafone has solidified its presence as a leading provider of mobile and enterprise services.
As of January 2023, Vodafone owns and operates networks in 21 countries, serving millions of customers with its robust infrastructures. Furthermore, its Vodafone Global Enterprise division specializes in delivering cutting-edge telecommunications and IT services to corporate clients across an astounding 150 countries.
Vodafone has announced plans to slash 11,000 jobs over the next three years. The job cuts, which account for approximately 10% of Vodafone’s global workforce, will impact the company’s UK headquarters as well as other countries.
Margherita Della Valle, Vodafone’s CEO and interim finance director, stated that the company’s recent performance had fallen short of expectations, necessitating decisive action. The announcement of job cuts coincided with Vodafone reporting a modest increase in full-year sales to €45.7 billion, accompanied by a decline in pre-tax gains.
According to BBC, rising energy costs have been eating into the company’s profits, while weaker sales in key markets such as Germany, Italy, and Spain have hindered its ability to keep pace with competitors.