Vodafone to cut 11,000 jobs as it aims to win back consumer markets

The company's new CEO sought for a 'simple' organisation

Vodafone layoffs File photo | Reuters

Joining the bandwagon of layoffs in private corporate sector, Vodafone on Tuesday announced that it will cut 11,000 jobs over the next three years.

“Our performance has not been good enough. To consistently deliver, Vodafone must change,” the new chief executive officer Margherita Della Valle said in a statement.

Valle also added that she sought for a 'simpler' organisation.

"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, " Valle added.

Simple and predictable experience will delivered to win the consumer markets, the statement read.

Mainly the action plan focused on three priorities. Significant investment reallocated in the coming fiscal towards customer experience and brand, 11,000 role reductions planned over three years, with both HQ and local markets simplification, and a Germany turnaround plan, continued pricing action and strategic review in Spain.

In December last year, former CEO Nick Read stepped down after a four-year tenure marked a steep fall in company's share price.

Vodafone said that it would generate about 3.3 billion euros of cash this financial year compared with the 4.8 billion euros in the year to end-March it reported on Tuesday. 


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