New Delhi, 16th May 2023: British telecom company Vodafone today (May 16) announced that it will lay off 11,000 employees over the next three years as its new CEO Margherita Della Valle looks to create a simpler business given that it expects earnings to increase by little to nothing in the upcoming fiscal year.
According to the CEO, “To increase our commercial agility and free up resources, Vodafone will be a leaner and simpler organization.”
Valle said, “Our performance was insufficient. Vodafone must adapt if it wants to consistently deliver.”
Valle added, “Customers, simplicity, and growth are my top priorities. To re-establish our competitiveness, we shall decomplexify our organizational structure and eliminate complexity. We will reallocate resources to deliver the high-quality service our customers expect and to generate additional development from the distinct position of Vodafone Business.”
The action plan, according to Vodafone, is centered around three priorities: significant investment reallocated in the upcoming fiscal towards customer experience and brand; 11,000 role reductions planned over three years; and a Germany turnaround plan, continued pricing action, and strategic review in Spain.