Vodafone plans to chop 11,000 jobs as new chief government Margherita Della Valle seeks to revive revenue development on the telecoms group.
Della Valle, who was made everlasting chief government final month, set out a method for the group on Tuesday, outlining the methods through which “Vodafone should change”.
The cuts are a part of plan to show round its efficiency, which has been blighted by declines in Germany, the corporate’s largest market. The reductions will come at each Vodafone’s headquarters and inside native markets, the group stated.
Vodafone employs about 104,000 individuals, in response to its newest annual report.
The retrenchment got here as Vodafone reported that full-year revenues edged up 0.3 per cent to €45.7bn, under analysts’ estimates. Adjusted earnings earlier than curiosity, tax, depreciation and amortisation declined 1.3 per cent to €14.7bn, under the corporate’s steering.