Vodafone said it would cut 11,000 jobs over three years, out of a total headcount of just over 100,000.
Vodafone shares fell as much as 4% on Tuesday, after the British telecommunications firm announced plans to slash a record number of jobs and forecast flat profit growth.
« Our performance has not been good enough. To consistently deliver, Vodafone must change, » recently appointed CEO Margherita Della Valle said in a candid statement on Tuesday.
Vodafone said it would cut 11,000 jobs over three years, out of a total headcount of just over 100,000. That is the largest round of reductions made in the company’s history, Reuters reported.
« My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness.
