British telecommunications group Vodafone announces layoffs involving 11,000 people, accounting for 10% of the overall staff

2023-05-19 10:07:30

British media reported yesterday that Vodafone, a local telecommunications group, announced layoffs on Tuesday. It will cut 11,000 people in the next three years, accounting for about 10% of the group’s total global employees. Vodafone mentioned in a statement that the layoffs will affect the UK headquarters, as well as other countries and regions. Last year, Vodafone disclosed that the number of employees worldwide was about 104,000, of which about 12,000 were in the UK, distributed in seven local offices.

Vodafone’s acquisition of Germany’s Mannesmann in 2000 was the largest acquisition in history, with a transaction value of more than US$190 billion that year. Vodafone is still the world’s largest mobile telecommunications group. They operate telecommunications networks in 21 countries or regions. Reached cooperation agreements with local telecom operators in 46 countries or regions. In addition to the UK mainland, Vodafone is also a major mobile network provider in Germany, Spain, Italy and several African countries.

Vodafone’s layoffs can be traced. Since Margherita Della Valle was appointed as the group CEO and financial director in January this year, she has emphasized that the performance is not good enough. She regards customers, simplification and growth as her top priority, and said that by simplifying the structure, Reduce complexity to regain competitiveness. Earlier Vodafon announced annual sales of 45.7 billion euros, although recorded a slight increase, but pre-tax profits fell.

Source of information and pictures:BBC