Vodafone cuts 11,000 jobs as new boss says group ‘must change’
Margherita Della Valle, recently appointed Vodafone’s group chief executive, said the cull comes as part of a plan to simplify the business. It will impact the group’s UK headquarters in Newbury, Berkshire, as well as markets worldwide. Della Valle said: “Our performance has not been good enough. To consistently deliver, Vodafone must change.” “We will simplify our organisation, cutting out complexity to regain our competitiveness”. The announcement comes as Vodafone reported a 1.3 per cent drop in full-year earnings to a lower-than-expected €14.7bn (£12.8bn) and forecast little or no growth in earnings over the current financial year. Vodafone's former boss Nick Read, who was ousted abruptly in December 2022 due to concerns over the group’s performance, had unveiled his own plans…