Home ›› 17 May 2023 ›› World Biz
British mobile phone giant Vodafone on Tuesday said it planned to axe 11,000 jobs over the next three years as new chief executive Margherita Della Valle seeks a “simpler” organisation.
“Our performance has not been good enough. To consistently deliver, Vodafone must change,” Della Valle said in a statement.
“We will simplify our organisation, cutting out complexity to regain our competitiveness,” added Della Valle, appointed CEO on a permanent basis at the start of May after five months as interim boss.
Her predecessor Nick Read stepped down in early December after a four-year tenure marked by a steep fall in the company’s share price.
He left with Vodafone in talks over merging its UK operations with rival Three UK, owned by Hong Kong-based CK Hutchison. Media reports say a deal worth £15 billion ($18.7 billion) is close to completion.
